Fluence Energy (NASDAQ:FLNC) Reaches New 52-Week Low – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC) shares hit a new 52-week low on Monday . The stock traded as low as $4.63 and last traded at $4.78, with a volume of 855245 shares trading hands. The stock had previously closed at $4.98.

Wall Street Analyst Weigh In

Several brokerages recently commented on FLNC. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $6.50 in a report on Wednesday, February 12th. Mizuho assumed coverage on Fluence Energy in a report on Wednesday, March 5th. They set an “outperform” rating and a $8.00 price objective for the company. Truist Financial lowered their target price on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.34.

Fluence Energy Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The stock’s 50 day moving average price is $8.19 and its 200 day moving average price is $15.46. The company has a market capitalization of $859.63 million, a P/E ratio of -94.90 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. As a group, equities analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls purchased 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the acquisition, the director now owns 105,861 shares in the company, valued at approximately $691,272.33. The trade was a 39.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Julian Nebreda acquired 23,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $6.35 per share, with a total value of $149,225.00. Following the acquisition, the chief executive officer now owns 120,455 shares of the company’s stock, valued at approximately $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 79,000 shares of company stock worth $499,665. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in Fluence Energy during the fourth quarter worth $34,000. Point72 DIFC Ltd acquired a new stake in shares of Fluence Energy in the 3rd quarter worth about $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy in the 3rd quarter valued at about $87,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Fluence Energy during the 4th quarter worth approximately $79,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Fluence Energy by 827.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock worth $88,000 after purchasing an additional 4,921 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

About Fluence Energy

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.