Fluence Energy (NASDAQ:FLNC) Hits New 52-Week Low – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) shares hit a new 52-week low on Tuesday . The company traded as low as $12.01 and last traded at $12.62, with a volume of 328969 shares changing hands. The stock had previously closed at $12.48.

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of analyst reports. Bank of America decreased their target price on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Truist Financial raised their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Canaccord Genuity Group dropped their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Susquehanna increased their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fluence Energy presently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Fluence Energy Stock Performance

The stock has a market cap of $2.27 billion, a PE ratio of 96.37, a PEG ratio of 0.51 and a beta of 2.37. The stock’s 50-day moving average is $16.08 and its two-hundred day moving average is $18.34.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.02 EPS. The firm’s revenue was up 82.5% on a year-over-year basis. Analysts forecast that Fluence Energy, Inc. will post 0.48 EPS for the current year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. Sanders Morris Harris LLC purchased a new position in shares of Fluence Energy in the 4th quarter valued at about $812,000. SG Americas Securities LLC raised its position in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after purchasing an additional 21,597 shares during the last quarter. FMR LLC raised its stake in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy during the 3rd quarter worth about $5,742,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Fluence Energy during the 3rd quarter worth about $22,059,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.