Fluence Energy (NASDAQ:FLNC) Stock Price Down 5.5%

Shares of Fluence Energy, Inc. (NASDAQ:FLNC – Get Rating) traded down 5.5% on Friday . The stock traded as low as $15.31 and last traded at $15.44. 164,375 shares were traded during trading, a decline of 86% from the average session volume of 1,189,934 shares. The stock had previously closed at $16.33.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLNC. Canaccord Genuity Group boosted their price objective on Fluence Energy from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, February 10th. Evercore ISI upped their price target on shares of Fluence Energy to $24.00 in a research note on Wednesday, December 14th. JPMorgan Chase & Co. lowered shares of Fluence Energy from an “overweight” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Friday, February 10th. Canaccord Genuity Group increased their target price on Fluence Energy from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 14th. Finally, Morgan Stanley raised their price target on Fluence Energy from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Fluence Energy Trading Down 6.6 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.32 and a quick ratio of 0.61. The stock has a market cap of $2.67 billion, a P/E ratio of -12.41 and a beta of 2.73. The firm’s fifty day moving average price is $20.80 and its two-hundred day moving average price is $17.82.

Insider Buying and Selling

In related news, SVP Rebecca Boll sold 19,706 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $19.23, for a total value of $378,946.38. Following the transaction, the senior vice president now directly owns 101,553 shares in the company, valued at $1,952,864.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Institutional Trading of Fluence Energy

Hedge funds have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. bought a new stake in Fluence Energy in the 4th quarter worth approximately $43,000. Sandia Investment Management LP purchased a new stake in shares of Fluence Energy in the 3rd quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Fluence Energy during the 4th quarter valued at $45,000. DekaBank Deutsche Girozentrale purchased a new position in Fluence Energy in the 3rd quarter worth $48,000. Finally, Exchange Traded Concepts LLC bought a new stake in Fluence Energy in the third quarter worth $57,000. 19.60% of the stock is owned by institutional investors.

About Fluence Energy

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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.