Fluence Energy (NASDAQ:FLNC) Shares Down 10.2% – Here’s What Happened

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) fell 10.2% during trading on Tuesday . The company traded as low as $16.02 and last traded at $16.0050. 6,923,553 shares were traded during trading, a decline of 15% from the average daily volume of 8,146,886 shares. The stock had previously closed at $17.82.

Analysts Set New Price Targets

FLNC has been the topic of several research reports. Roth Capital upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Fluence Energy from $13.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $15.00 price target on shares of Fluence Energy in a research note on Wednesday, April 29th. Zacks Research upgraded shares of Fluence Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, UBS Group boosted their price objective on Fluence Energy from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.83.

Fluence Energy Stock Down 9.8%

The firm has a 50 day simple moving average of $20.55 and a two-hundred day simple moving average of $19.47. The stock has a market capitalization of $2.96 billion, a P/E ratio of -44.60 and a beta of 2.75. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. Fluence Energy had a negative return on equity of 8.29% and a negative net margin of 1.62%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.24) earnings per share. On average, equities research analysts expect that Fluence Energy, Inc. will post -0.22 earnings per share for the current year.

Insider Activity

In other news, SVP John Zahurancik sold 16,000 shares of Fluence Energy stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $25.18, for a total transaction of $402,880.00. Following the sale, the senior vice president directly owned 87,145 shares of the company’s stock, valued at approximately $2,194,311.10. This trade represents a 15.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $21.00, for a total value of $60,210,612.00. Following the sale, the insider owned 11,801,103 shares in the company, valued at approximately $247,823,163. This trade represents a 19.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,904,146 shares of company stock worth $61,090,399. Insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of Fluence Energy by 22.2% in the 4th quarter. GAMMA Investing LLC now owns 2,406 shares of the company’s stock worth $48,000 after purchasing an additional 437 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Fluence Energy by 17.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,970 shares of the company’s stock valued at $79,000 after purchasing an additional 586 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Fluence Energy by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock worth $38,000 after buying an additional 672 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Fluence Energy by 4.5% in the first quarter. Sei Investments Co. now owns 16,222 shares of the company’s stock valued at $223,000 after buying an additional 703 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Fluence Energy by 10.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,638 shares of the company’s stock valued at $191,000 after buying an additional 935 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.