Fluence Energy (NASDAQ:FLNC) Reaches New 52-Week Low - Here's What Happened

Key Points

• Fluence Energy shares hit a new 52-week low of $5.79, significantly below their 50-day and 200-day moving averages of $9.45 and $14.73, respectively.
• Analysts have broadly reduced their price targets and ratings, giving the stock an average “Reduce” rating and an average target of $11.57; recent targets range from $5 to $13.
• The company reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below analyst expectations of $818.57 million, while directors purchased a combined 17,000 shares at $7.36 each.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday. The stock traded as low as $5.79 and last traded at $5.7890, with a volume of 704,695 shares changing hands. The stock had previously closed at $5.80.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FLNC shares. Susquehanna decreased their price objective on shares of Fluence Energy from $23.00 to $13.00 and set a "positive" rating on the stock in a report on Wednesday, October 14th. Wall Street Zen cut shares of Fluence Energy from a "sell" rating to a "strong sell" rating in a research note on Saturday, September 19th. Glj Research cut shares of Fluence Energy from a "buy" rating to a "hold" rating and cut their target price for the stock from $26.00 to $12.89 in a research note on Thursday, August 20th. BMO Capital Markets reduced their target price on shares of Fluence Energy from $14.00 to $7.00 and set a "market perform" rating for the company in a report on Thursday, September 17th. Finally, BNP Paribas Exane decreased their price target on shares of Fluence Energy from $8.00 to $5.00 and set an "underperform" rating on the stock 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $11.57.

Fluence Energy Price Performance

The company has a quick ratio of 0.89, a current ratio of 1.34 and a debt-to-equity ratio of 0.91. The company's 50 day moving average is $9.45 and its 200 day moving average is $14.73. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -9.36 and a beta of 2.77.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%. The business had revenue of $649.85 million during the quarter, compared to analyst estimates of $818.57 million. During the same quarter last year, the firm earned $0.01 EPS. Fluence Energy's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Fluence Energy, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Fluence Energy

A number of institutional investors have recently modified their holdings of FLNC. Bank of America Corp DE raised its stake in Fluence Energy by 24.4% in the first quarter. Bank of America Corp DE now owns 3,085,730 shares of the company's stock valued at $42,460,000 after purchasing an additional 604,983 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Fluence Energy during the first quarter worth about $19,579,000. 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 in the last quarter. Squarepoint Ops LLC grew its stake in Fluence Energy by 0.6% during the second quarter. Squarepoint Ops LLC now owns 268,318 shares of the company's stock worth $5,334,000 after buying an additional 1,707 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in Fluence Energy by 1,086.3% during the first quarter. Edgestream Partners L.P. now owns 385,804 shares of the company's stock worth $5,309,000 after buying an additional 353,282 shares in the last quarter. 53.16% of the stock is currently owned by 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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