Fluence Energy (NASDAQ:FLNC) Shares Down 5.5% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price traded down 5.5% during mid-day trading on Thursday . The stock traded as low as $20.03 and last traded at $20.05. 1,440,435 shares traded hands during trading, a decline of 79% from the average session volume of 6,943,019 shares. The stock had previously closed at $21.22.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Fluence Energy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, May 11th. Needham & Company LLC started coverage on shares of Fluence Energy in a research note on Friday, March 20th. They set a “hold” rating for the company. Bank of America set a $32.00 target price on shares of Fluence Energy in a research note on Tuesday, February 3rd. Roth Mkm raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Friday, May 8th. Finally, Canaccord Genuity Group set a $28.00 target price on shares of Fluence Energy in a research note on Friday, May 8th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $19.47.

Fluence Energy Stock Down 0.3%

The business’s 50 day moving average is $16.07 and its 200-day moving average is $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 company has a market cap of $3.90 billion, a PE ratio of -58.57 and a beta of 2.62.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $614.93 million. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that Fluence Energy, Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling

In other news, Director Heynitz Harald Von sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $16.50, for a total value of $165,000.00. Following the completion of the transaction, the director owned 63,550 shares in the company, valued at approximately $1,048,575. This represents a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the completion of the transaction, the insider owned 11,801,103 shares of the company’s stock, valued at approximately $247,823,163. The trade was a 19.55% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Curio Wealth LLC acquired a new position in shares of Fluence Energy in the 4th quarter valued at $31,000. State of Wyoming purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in shares of Fluence Energy by 22.2% in the fourth quarter. GAMMA Investing LLC now owns 2,406 shares of the company’s stock valued at $48,000 after acquiring an additional 437 shares in the last quarter. Sankala Group LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $51,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Fluence Energy by 31.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock valued at $38,000 after acquiring an additional 672 shares in the last quarter. Institutional investors and hedge funds 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.