Fluence Energy (NASDAQ:FLNC) Stock Price Down 8.8% Following Insider Selling

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) were down 8.8% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $18.18 and last traded at $17.8120. Approximately 1,103,919 shares traded hands during trading, a decline of 84% from the average daily volume of 6,866,244 shares. The stock had previously closed at $19.54.

Specifically, major shareholder Qatar Investment Authority sold 2,867,172 shares of Fluence Energy stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $21.00, for a total value of $60,210,612.00. Following the completion of the transaction, the insider owned 11,801,103 shares in the company, valued at approximately $247,823,163. This trade represents a 19.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FLNC shares. The Goldman Sachs Group restated a “buy” rating and set a $22.00 target price on shares of Fluence Energy in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of Fluence Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. Morgan Stanley set a $16.00 price target on shares of Fluence Energy in a report on Monday, January 26th. Roth Mkm raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of Fluence Energy from a “strong sell” rating to a “hold” rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.47.

Fluence Energy Stock Performance

The firm has a 50 day moving average of $15.50 and a two-hundred day moving average of $19.01. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.91. The stock has a market cap of $3.20 billion, a PE ratio of -48.25 and a beta of 2.62.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The company had revenue of $464.89 million for the quarter, compared to analyst estimates of $614.93 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Research analysts predict that Fluence Energy, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its stake 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 acquiring an additional 604,983 shares in the last quarter. Edgestream Partners L.P. lifted its position in Fluence Energy by 1,086.3% in the first quarter. Edgestream Partners L.P. now owns 385,804 shares of the company’s stock valued at $5,309,000 after acquiring an additional 353,282 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in Fluence Energy by 84.6% in the first quarter. Altshuler Shaham Ltd now owns 84,150 shares of the company’s stock valued at $1,158,000 after acquiring an additional 38,556 shares in the last quarter. Amundi boosted its stake in Fluence Energy by 8.9% in the first quarter. Amundi now owns 95,673 shares of the company’s stock valued at $1,316,000 after acquiring an additional 7,848 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Fluence Energy by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock worth $38,000 after purchasing an additional 672 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.