Barclays Downgrades Fluence Energy (NASDAQ:FLNC) to Underweight

Fluence Energy (NASDAQ:FLNC) was downgraded by Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Thursday, MarketBeat.com reports. They currently have a $10.00 price target on the stock. Barclays‘s price objective would indicate a potential downside of 5.30% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Truist Financial assumed coverage on Fluence Energy in a report on Monday, July 13th. They issued a “hold” rating and a $16.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Fluence Energy from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Citigroup decreased their price objective on shares of Fluence Energy from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Fluence Energy in a research note on Wednesday, August 5th. Finally, HSBC raised shares of Fluence Energy from a “reduce” rating to a “hold” rating and set a $19.00 target price on the stock in a research report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.73.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $10.56 on Thursday. The business’s fifty day simple moving average is $14.14 and its 200-day simple moving average is $16.53. The company has a market cap of $1.95 billion, a PE ratio of -17.31 and a beta of 2.74. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. Fluence Energy has a 12-month low of $6.60 and a 12-month high of $33.51.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The business had revenue of $649.85 million for the quarter, compared to analysts’ expectations of $818.57 million. During the same quarter in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts expect that Fluence Energy will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In other news, SVP John Zahurancik sold 16,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $25.18, for a total value of $402,880.00. Following the completion of the transaction, the senior vice president owned 87,145 shares of the company’s stock, valued at $2,194,311.10. The trade was a 15.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director owned 58,550 shares in the company, valued at $1,463,750. The trade was a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,974 shares of company stock valued at $879,787 in the last quarter. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position in shares of Fluence Energy by 189.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after purchasing an additional 2,076,668 shares during the period. Bank of America Corp DE lifted its stake in Fluence Energy by 24.4% in the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock valued at $42,460,000 after buying an additional 604,983 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Fluence Energy by 5,489.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock valued at $60,247,000 after buying an additional 2,991,292 shares in the last quarter. Millennium Management LLC boosted its holdings in Fluence Energy by 11.3% in the 3rd quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock worth $24,114,000 after buying an additional 227,080 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Fluence Energy by 82.6% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,965,083 shares of the company’s stock worth $21,223,000 after buying an additional 888,893 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.