Fluence Energy (NASDAQ:FLNC) Reaches New 1-Year Low – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price hit a new 52-week low on Monday. The company traded as low as $5.79 and last traded at $5.7890, with a volume of 704,695 shares traded. The stock had previously closed at $5.80.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Fluence Energy from $17.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th. Truist Financial restated a “hold” rating and set a $10.00 price objective (down from $16.00) on shares of Fluence Energy in a research report on Thursday, September 17th. Needham & Company LLC restated a “hold” rating on shares of Fluence Energy in a research note on Thursday, September 17th. Morgan Stanley reduced their target price on Fluence Energy from $15.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 14th. Finally, Robert W. Baird reiterated an “underperform” rating and issued a $3.00 price target (down from $10.00) on shares of Fluence Energy in a research note on Thursday, September 17th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $11.57.

Fluence Energy Price Performance

The business’s fifty day moving average price is $9.45 and its 200 day moving average price is $14.73. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89. The stock has a market cap of $1.05 billion, a P/E ratio of -9.36 and a beta of 2.77.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results 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 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%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. Sell-side analysts forecast that Fluence Energy, Inc. will post -1.31 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were purchased at an average price of $7.36 per share, with a total value of $73,600.00. Following the completion of the purchase, the director owned 169,550 shares in the company, valued at $1,247,888. This represents a 6.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Harald von Heynitz purchased 7,000 shares of the stock in a transaction dated Monday, September 21st. The shares were bought at an average price of $7.36 per share, with a total value of $51,520.00. Following the completion of the acquisition, the director directly owned 65,550 shares of the company’s stock, valued at approximately $482,448. This represents a 11.96% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of FLNC. Vontobel Holding Ltd. acquired a new position in Fluence Energy in the 3rd quarter worth about $257,000. State of Alaska Department of Revenue bought a new position in Fluence Energy in the third quarter valued at about $62,000. Green Alpha Advisors LLC boosted its stake in shares of Fluence Energy by 78.5% during the third quarter. Green Alpha Advisors LLC now owns 49,696 shares of the company’s stock valued at $382,000 after purchasing an additional 21,857 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Fluence Energy by 126.7% during the second quarter. Tidal Investments LLC now owns 207,694 shares of the company’s stock valued at $4,129,000 after purchasing an additional 116,064 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Fluence Energy during the second quarter worth about $94,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

About Fluence Energy

Fluence Energy, Inc is a global energy technology company that develops and deploys energy storage products, services and digital applications. Its solutions are designed to help utilities, renewable energy developers, commercial and industrial customers, and other power market participants manage electricity supply, improve grid flexibility and integrate renewable generation.

The company’s offerings include modular battery-based energy storage systems, energy management software and asset optimization services.