Fluence Energy, Inc. (NASDAQ:FLNC – Get Free Report) shares were down 4.8% during trading on Friday after Roth Mkm lowered their price target on the stock from $31.00 to $27.00. Roth Mkm currently has a neutral rating on the stock. Fluence Energy traded as low as $24.62 and last traded at $24.76. Approximately 492,429 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 1,266,898 shares. The stock had previously closed at $26.02.
Other equities analysts have also issued research reports about the stock. Bank of America upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $14.00 to $26.00 in a report on Wednesday, May 17th. The Goldman Sachs Group lifted their price objective on shares of Fluence Energy from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. Johnson Rice initiated coverage on shares of Fluence Energy in a report on Wednesday, June 21st. They set a “buy” rating and a $32.00 price objective on the stock. Guggenheim boosted their target price on Fluence Energy from $40.00 to $44.00 in a research report on Friday. Finally, Citigroup increased their price target on Fluence Energy from $28.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and a consensus target price of $29.16.
Insider Buying and Selling at Fluence Energy
In related news, SVP Carolee Couch sold 50,000 shares of Fluence Energy stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $22.78, for a total value of $1,139,000.00. Following the sale, the senior vice president now owns 1,200 shares of the company’s stock, valued at approximately $27,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.
Institutional Trading of Fluence Energy
Hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in Fluence Energy during the second quarter valued at about $25,000. Atticus Wealth Management LLC lifted its stake in shares of Fluence Energy by 43.9% during the 1st quarter. Atticus Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $33,000 after buying an additional 500 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Fluence Energy in the 2nd quarter worth approximately $39,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Fluence Energy during the 4th quarter valued at $45,000. Finally, Quarry LP lifted its position in shares of Fluence Energy by 342.2% during the first quarter. Quarry LP now owns 2,401 shares of the company’s stock worth $49,000 after acquiring an additional 1,858 shares in the last quarter. 53.28% of the stock is currently owned by institutional investors.
Fluence Energy Stock Down 4.0 %
The company has a debt-to-equity ratio of 0.04, a current ratio of 1.34 and a quick ratio of 0.78. The stock has a market capitalization of $4.38 billion, a P/E ratio of -26.56 and a beta of 2.57. The stock has a fifty day moving average price of $26.89 and a 200 day moving average price of $22.60.
Fluence Energy (NASDAQ:FLNC – Get Free Report) last posted its earnings results on Wednesday, August 9th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.01. Fluence Energy had a negative return on equity of 20.60% and a negative net margin of 5.54%. The business had revenue of $536.35 million during the quarter, compared to analyst estimates of $478.49 million. During the same quarter in the previous year, the firm earned ($0.99) EPS. The company’s quarterly revenue was up 124.4% compared to the same quarter last year. On average, research analysts forecast that Fluence Energy, Inc. will post -0.74 earnings per share for the current year.
About Fluence Energy
Fluence Energy, Inc, through its subsidiaries, offers energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.