Fluence Energy (NASDAQ:FLNC) Upgraded by Piper Sandler to Strong Sell Rating

Piper Sandler upgraded shares of Fluence Energy (NASDAQ:FLNC) to a strong sell rating in a report released on Tuesday,Zacks reports.

Several other brokerages also recently commented on FLNC. Glj Research downgraded Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $12.89 in a research note on Thursday, August 20th. Truist Financial started coverage on Fluence Energy in a report on Monday, July 13th. They set a “hold” rating and a $16.00 price target for the company. Morgan Stanley set a $15.00 price objective on shares of Fluence Energy in a research report on Friday, August 7th. Royal Bank Of Canada decreased their price objective on shares of Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, August 7th. Finally, Roth Capital set a $18.00 price objective on shares of Fluence Energy in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.14.

Fluence Energy Price Performance

Shares of FLNC opened at $10.12 on Tuesday. 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 company’s fifty day simple moving average is $13.26 and its 200 day simple moving average is $16.27. Fluence Energy has a 1-year low of $6.60 and a 1-year high of $33.51. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -16.59 and a beta of 2.74.

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

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, SVP John Zahurancik sold 15,974 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $22.03, for a total value of $351,907.22. Following the transaction, the senior vice president directly owned 71,171 shares of the company’s stock, valued at $1,567,897.13. This represents a 18.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Harald von Heynitz sold 5,000 shares of the stock in a transaction on Monday, June 15th. The stock was 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 in the company, valued at $1,463,750. The trade was a 7.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,974 shares of company stock valued at $879,787 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently bought and sold shares of FLNC. Price T Rowe Associates Inc. MD lifted its position in shares of Fluence Energy by 5,489.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock valued at $60,247,000 after acquiring an additional 2,991,292 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Fluence Energy by 189.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the period. California State Teachers Retirement System increased its position in shares of Fluence Energy by 2,999.1% in the second quarter. California State Teachers Retirement System now owns 1,931,223 shares of the company’s stock worth $38,393,000 after purchasing an additional 1,868,908 shares during the period. Renaissance Technologies LLC acquired a new position in Fluence Energy in the first quarter valued at about $19,579,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Fluence Energy during the third quarter worth about $14,207,000. 53.16% of the stock is owned by institutional investors.

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.