Fluence Energy (NASDAQ:FLNC) Hits New 12-Month Low - What's Next?

Key Points

• Fluence Energy shares hit a new 52-week low of $5.27, well below their 50-day and 200-day moving averages, amid continued stock weakness.
• Analyst sentiment is cautious: the consensus rating is “Reduce,” with 14 Holds and 7 Sells, although the average price target of $10.76 remains above the current share price.
• The company reported a quarterly loss of $0.24 per share and revenue of $649.85 million, missing analyst expectations of $818.57 million; analysts forecast a full-year loss of $1.31 per share.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares hit a new 52-week low on Monday. The company traded as low as $5.27 and last traded at $5.6430, with a volume of 4,325,865 shares trading hands. The stock had previously closed at $5.72.

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of research reports. Glj Research cut Fluence Energy from a "buy" rating to a "hold" rating and reduced their price objective for the company from $26.00 to $12.89 in a research report on Thursday, August 20th. UBS Group dropped their price objective on shares of Fluence Energy from $12.00 to $6.00 and set a "neutral" rating on the stock in a report on Monday, October 26th. The Goldman Sachs Group cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and reduced their target price for the company from $22.00 to $9.00 in a report on Thursday, September 17th. Weiss Ratings upgraded shares of Fluence Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 21st. Finally, Needham & Company LLC restated a "hold" rating on shares of Fluence Energy in a research note on Thursday, September 17th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have given a Sell rating to the company's stock. According to MarketBeat, Fluence Energy currently has an average rating of "Reduce" and a consensus price target of $10.76.

Fluence Energy Price Performance

The firm has a 50-day moving average of $8.15 and a 200-day moving average of $15.59. The stock has a market cap of $990.38 million, a PE ratio of -8.81 and a beta of 2.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The company had revenue of $649.85 million for the quarter, compared to analysts' expectations of $818.57 million. During the same period in the previous year, the business posted $0.01 earnings per share. The business's revenue was up 7.9% on a year-over-year basis. Research analysts predict that Fluence Energy, Inc. will post -1.31 EPS for the current year.

Insider Activity

In related news, Director Harald von Heynitz bought 7,000 shares of the company's stock in a transaction dated Monday, September 21st. The stock was purchased at an average price of $7.36 per share, for a total transaction of $51,520.00. Following the acquisition, the director owned 65,550 shares in the company, valued at $482,448. This trade represents a 11.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herman E. Bulls acquired 10,000 shares of the company's stock in a transaction on Monday, September 21st. The shares were purchased at an average cost of $7.36 per share, with a total value of $73,600.00. Following the completion of the purchase, the director directly owned 169,550 shares of the company's stock, valued at $1,247,888. This trade represents a 6.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. IFP Advisors Inc raised its position in shares of Fluence Energy by 184.1% in the 2nd quarter. IFP Advisors Inc now owns 1,540 shares of the company's stock worth $31,000 after acquiring an additional 998 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Fluence Energy by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock valued at $38,000 after acquiring an additional 672 shares during the last quarter. Allworth Financial LP boosted its stake in Fluence Energy by 415.3% in the second quarter. Allworth Financial LP now owns 3,056 shares of the company's stock valued at $61,000 after acquiring an additional 2,463 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Fluence Energy during the second quarter worth $94,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Fluence Energy during the third quarter worth $62,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

Fluence Energy, Inc NASDAQ: FLNC is a global energy technology company that develops and deploys energy storage systems and software for electric utilities, renewable energy developers, and commercial and industrial customers. Its solutions are designed to help integrate renewable power, improve grid reliability, manage electricity supply and demand, and support the transition to a more flexible, low-carbon energy system.

The company's offerings include utility-scale battery energy storage products, renewable-plus-storage solutions, and systems for commercial and industrial applications.

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