Fluence Energy (NASDAQ:FLNC) Cut to Hold at Glj Research

Glj Research lowered shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a hold rating in a research report report published on Thursday, Marketbeat reports. They currently have $12.89 price target on the stock, down from their previous price target of $26.00.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating and set a $22.00 target price on shares of Fluence Energy in a research note on Thursday, May 7th. Susquehanna increased their price objective on shares of Fluence Energy from $23.00 to $25.00 and gave the company a “positive” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Fluence Energy from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Truist Financial initiated coverage on shares of Fluence Energy in a research report on Monday, July 13th. They set a “hold” rating and a $16.00 target price for the company. Finally, Wall Street Zen cut shares of Fluence Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Fluence Energy presently has an average rating of “Hold” and an average price target of $17.89.

Fluence Energy Trading Down 0.6%

Shares of FLNC stock opened at $11.32 on Thursday. Fluence Energy has a 52-week low of $6.60 and a 52-week high of $33.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34. The firm has a market capitalization of $2.09 billion, a PE ratio of -18.56 and a beta of 2.78. The stock has a fifty day simple moving average of $16.14 and a two-hundred day simple moving average of $17.22.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. The business had revenue of $649.85 million for the quarter, compared to the consensus estimate of $818.57 million. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. Fluence Energy’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. On average, analysts predict that Fluence Energy will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP John Zahurancik sold 16,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $25.18, for a total transaction of $402,880.00. Following the completion of the transaction, the senior vice president directly owned 87,145 shares of the company’s stock, valued at approximately $2,194,311.10. This represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director owned 58,550 shares of the company’s stock, valued at $1,463,750. This represents a 7.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 36,974 shares of company stock valued at $879,787. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds have recently bought and sold shares of the business. AlphaGrep UK Ltd bought a new stake in shares of Fluence Energy in the 2nd quarter worth about $232,000. FirstWave Capital Management LLC bought a new position in shares of Fluence Energy in the 2nd quarter valued at about $1,757,000. Wedbush Securities Inc. purchased a new position in Fluence Energy in the second quarter worth about $217,000. Steadtrust LLC bought a new stake in Fluence Energy during the second quarter worth approximately $235,000. Finally, Assenagon Asset Management S.A. bought a new stake in Fluence Energy during the second quarter worth approximately $510,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.