Fluence Energy (NASDAQ:FLNC) Shares Down 2.8%

Fluence Energy, Inc. (NASDAQ:FLNC) traded down 2.8% on Monday . The company traded as low as $25.11 and last traded at $25.73. 424,228 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 1,262,459 shares. The stock had previously closed at $26.48.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FLNC. Royal Bank of Canada increased their price objective on shares of Fluence Energy from $26.00 to $32.00 in a research report on Thursday, June 22nd. Johnson Rice started coverage on shares of Fluence Energy in a report on Wednesday, June 21st. They set a “buy” rating and a $32.00 target price on the stock. HSBC upped their price target on shares of Fluence Energy from $26.00 to $31.00 in a report on Monday, June 5th. Roth Mkm cut their target price on shares of Fluence Energy from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 11th. Finally, Barclays assumed coverage on shares of Fluence Energy in a research report on Wednesday, August 30th. They set an “overweight” rating and a $31.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Fluence Energy Stock Down 4.0 %

The stock’s 50 day simple moving average is $26.45 and its two-hundred day simple moving average is $22.99. The firm has a market cap of $4.50 billion, a P/E ratio of -27.01 and a beta of 2.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.46 and a quick ratio of 0.92.

Fluence Energy (NASDAQ:FLNC) last announced 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 net margin of 5.54% and a negative return on equity of 21.07%. The business had revenue of $536.35 million during the quarter, compared to the consensus estimate of $478.49 million. During the same quarter last year, the firm earned ($0.99) earnings per share. The business’s revenue for the quarter was up 124.4% on a year-over-year basis. As a group, research analysts forecast that Fluence Energy, Inc. will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in FLNC. Siemens AG purchased a new position in shares of Fluence Energy during the 4th quarter worth $681,508,000. Invesco Ltd. increased its holdings in Fluence Energy by 109.7% in the 1st quarter. Invesco Ltd. now owns 1,437,240 shares of the company’s stock valued at $18,842,000 after acquiring an additional 752,009 shares during the last quarter. Millennium Management LLC increased its holdings in Fluence Energy by 255.6% in the 4th quarter. Millennium Management LLC now owns 859,436 shares of the company’s stock valued at $14,739,000 after acquiring an additional 617,753 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Fluence Energy in the 1st quarter valued at $11,327,000. Finally, Clearbridge Investments LLC increased its holdings in Fluence Energy by 61.2% in the 1st quarter. Clearbridge Investments LLC now owns 1,361,229 shares of the company’s stock valued at $17,846,000 after acquiring an additional 516,988 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.