Fluence Energy (NASDAQ:FLNC) Shares Gap Down – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $5.01, but opened at $4.71. Fluence Energy shares last traded at $4.80, with a volume of 924,197 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on FLNC shares. Susquehanna lowered their target price on Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. BMO Capital Markets cut Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. Jefferies Financial Group lowered shares of Fluence Energy from a “hold” rating to an “underperform” rating and cut their target price for the stock from $4.00 to $3.00 in a research report on Thursday, May 15th. Robert W. Baird reduced their target price on shares of Fluence Energy from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Finally, Morgan Stanley upped their price target on shares of Fluence Energy from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Fluence Energy currently has an average rating of “Hold” and an average target price of $8.21.

Fluence Energy Price Performance

The firm’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $10.65. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $885.96 million, a PE ratio of -97.60 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The business’s revenue was down 30.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. On average, research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the transaction, the director now directly owns 115,861 shares of the company’s stock, valued at $626,808.01. This trade represents a 9.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Cynthia A. Arnold acquired 33,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the purchase, the director now owns 86,202 shares of the company’s stock, valued at $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC increased its position in shares of Fluence Energy by 296.8% during the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after acquiring an additional 135,957 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Fluence Energy by 79.2% in the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after purchasing an additional 21,597 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Fluence Energy during the 4th quarter worth $340,000. KBC Group NV increased its holdings in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after purchasing an additional 1,671 shares during the period. Finally, Canal Insurance CO raised its position in Fluence Energy by 15.0% during the 4th quarter. Canal Insurance CO now owns 300,000 shares of the company’s stock valued at $4,764,000 after purchasing an additional 39,200 shares in the last quarter. 53.16% of the stock is 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.