Fluence Energy (NASDAQ:FLNC) Shares Gap Down Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) shares gapped down prior to trading on Monday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. The stock had previously closed at $23.96, but opened at $22.58. Fluence Energy shares last traded at $22.6610, with a volume of 1,436,678 shares trading hands.

Other equities analysts have also recently issued reports about the company. Barclays set a $13.00 price objective on Fluence Energy in a research note on Tuesday, October 7th. BNP Paribas Exane reissued an “underperform” rating and set a $9.00 target price on shares of Fluence Energy in a report on Tuesday, October 21st. Bank of America lifted their price target on shares of Fluence Energy from $11.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, October 24th. UBS Group boosted their price objective on shares of Fluence Energy from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, August 27th. Finally, Seaport Res Ptn lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $13.28.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. raised its position in Fluence Energy by 152.4% in the first quarter. Invesco Ltd. now owns 925,011 shares of the company’s stock worth $4,486,000 after acquiring an additional 558,498 shares in the last quarter. Nuveen LLC purchased a new position in Fluence Energy during the first quarter valued at approximately $942,000. HighTower Advisors LLC boosted its stake in shares of Fluence Energy by 32.8% during the 1st quarter. HighTower Advisors LLC now owns 24,949 shares of the company’s stock valued at $121,000 after buying an additional 6,157 shares during the period. American Century Companies Inc. purchased a new position in shares of Fluence Energy during the 1st quarter valued at $376,000. Finally, Quantbot Technologies LP purchased a new position in shares of Fluence Energy during the 1st quarter valued at $260,000. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $18.26 and its two-hundred day moving average price is $11.26. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -57.00 and a beta of 2.88.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the business posted $0.34 EPS. Fluence Energy’s revenue for the quarter was down 15.2% on a year-over-year basis. Analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

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.