Fluence Energy (NASDAQ:FLNC) Cut to Underweight at Barclays

Barclays cut shares of Fluence Energy (NASDAQ:FLNC) from an equal weight rating to an underweight rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. Barclays currently has $10.00 price target on the stock, down from their previous price target of $16.00.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and set a $22.00 target price on shares of Fluence Energy in a research report on Thursday, May 7th. Susquehanna lifted their price target 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. Royal Bank Of Canada decreased their price target on shares of Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fluence Energy in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $24.00 price objective on Fluence Energy in a research report on Friday, August 7th. Six analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.73.

Fluence Energy Stock Up 1.5%

NASDAQ FLNC opened at $10.35 on Thursday. Fluence Energy has a 12 month low of $6.60 and a 12 month high of $33.51. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a market cap of $1.91 billion, a PE ratio of -16.97 and a beta of 2.74. The stock’s 50 day moving average is $13.78 and its 200 day moving average is $16.42.

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

Insider Activity

In related news, Director Harald von Heynitz sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the transaction, the director owned 58,550 shares of the company’s stock, valued at approximately $1,463,750. This trade represents a 7.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Zahurancik sold 15,974 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total transaction of $351,907.22. Following the completion of the transaction, the senior vice president directly owned 71,171 shares of the company’s stock, valued at approximately $1,567,897.13. The trade was a 18.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,974 shares of company stock worth $879,787 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of FLNC. Goldman Sachs Group Inc. increased its position in shares of Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after purchasing an additional 2,076,668 shares during the last quarter. Bank of America Corp DE lifted its position 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 worth $42,460,000 after buying an additional 604,983 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Fluence Energy by 5,489.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock worth $60,247,000 after buying an additional 2,991,292 shares during the last quarter. Millennium Management LLC lifted its position in Fluence Energy by 11.3% in the third quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock worth $24,114,000 after buying an additional 227,080 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in Fluence Energy by 82.6% during the third quarter. Voloridge Investment Management LLC now owns 1,965,083 shares of the company’s stock worth $21,223,000 after buying an additional 888,893 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.