Fluence Energy (NASDAQ:FLNC) Reaches New 1-Year Low - What's Next?

Key Points

• Fluence Energy shares fell to a new 52-week low of $6.92, with the stock last trading at $6.83 and well below its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a $12.42 price target, based on four Buy, fourteen Hold, and seven Sell ratings.
• The company reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below the $818.57 million analyst estimate, although revenue increased 7.9% year over year. Two directors bought shares at $7.36 each, while institutional investors own 53.16% of the stock.

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $6.92 and last traded at $6.83, with a volume of 142,375 shares changing hands. The stock had previously closed at $7.07.

Wall Street Analysts Forecast Growth

Several analysts have commented on FLNC shares. Morgan Stanley set a $15.00 price objective on Fluence Energy in a research note on Friday, August 7th. Needham & Company LLC reissued a "hold" rating on shares of Fluence Energy in a research note on Thursday, September 17th. UBS Group raised shares of Fluence Energy from a "sell" rating to a "neutral" rating and lifted their target price for the company from $9.00 to $12.00 in a report on Tuesday, August 25th. JPMorgan Chase & Co. dropped their price target on shares of Fluence Energy from $17.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, September 17th. Finally, Roth Capital set a $18.00 price target on shares of Fluence Energy in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of "Reduce" and an average price target of $12.42.

Fluence Energy Price Performance

The stock has a fifty day moving average of $10.07 and a two-hundred day moving average of $14.97. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -11.09 and a beta of 2.77. The company has a quick ratio of 0.89, a current ratio of 1.34 and a debt-to-equity ratio of 0.91.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%. The company had revenue of $649.85 million for the quarter, compared to analysts' expectations of $818.57 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Fluence Energy's revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Fluence Energy, Inc. will post -1.12 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Fluence Energy

Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in Fluence Energy in the first quarter valued at approximately $19,579,000. Bank of America Corp DE increased its position in Fluence Energy by 24.4% during the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company's stock worth $42,460,000 after purchasing an additional 604,983 shares in the last quarter. First Trust Advisors LP grew its stake in Fluence Energy by 55.4% during the first quarter. First Trust Advisors LP now owns 1,131,468 shares of the company's stock worth $15,569,000 after buying an additional 403,199 shares during the period. Edgestream Partners L.P. increased its position in shares of Fluence Energy by 1,086.3% in the first quarter. Edgestream Partners L.P. now owns 385,804 shares of the company's stock worth $5,309,000 after acquiring an additional 353,282 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Fluence Energy in the 1st quarter valued at $2,454,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

Fluence Energy, Inc is a global energy technology company that develops and deploys energy storage products, services and digital applications. Its solutions are designed to help utilities, renewable energy developers, commercial and industrial customers, and other power market participants manage electricity supply, improve grid flexibility and integrate renewable generation.

The company's offerings include modular battery-based energy storage systems, energy management software and asset optimization services.

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