Fluence Energy, Inc. (NASDAQ:FLNC) Given Consensus Rating of “Hold” by Analysts

Fluence Energy, Inc. (NASDAQ:FLNC) has earned a consensus rating of “Hold” from the twenty-four brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.64.

Several equities analysts recently commented on FLNC shares. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Canaccord Genuity Group reduced their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Royal Bank of Canada cut shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $25.00 to $7.00 in a research note on Wednesday, February 12th. Finally, Guggenheim cut shares of Fluence Energy from a “buy” rating to a “sell” rating and reduced their price objective for the company from $26.00 to $6.00 in a research note on Tuesday, February 11th.

Fluence Energy Price Performance

FLNC opened at $6.94 on Friday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -138.80 and a beta of 2.37. 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 50-day moving average price of $13.58 and a 200-day moving average price of $17.65. Fluence Energy has a twelve month low of $6.05 and a twelve month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. Equities analysts expect that Fluence Energy will post 0.08 EPS for the current year.

Insider Transactions at Fluence Energy

In other news, CEO Julian Nebreda bought 23,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the purchase, the chief executive officer now directly owns 120,455 shares in the company, valued at $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 79,000 shares of company stock worth $601,265. 0.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Zimmer Partners LP increased its position in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after purchasing an additional 1,894,301 shares during the period. Erste Asset Management GmbH purchased a new position in Fluence Energy during the 3rd quarter valued at $22,059,000. Point72 Asset Management L.P. purchased a new position in Fluence Energy during the 3rd quarter valued at $21,809,000. Webs Creek Capital Management LP purchased a new position in Fluence Energy during the 4th quarter valued at $15,118,000. Finally, Covalis Capital LLP purchased a new position in Fluence Energy during the 4th quarter valued at $12,113,000. 53.16% of the stock is owned by hedge funds and other 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.