Fluence Energy (NASDAQ:FLNC) Shares Down 3.2%

Fluence Energy, Inc. (NASDAQ:FLNC) shares fell 3.2% on Monday . The stock traded as low as $16.64 and last traded at $16.79. 313,368 shares traded hands during trading, a decline of 87% from the average session volume of 2,374,942 shares. The stock had previously closed at $17.34.

Analyst Upgrades and Downgrades

Several brokerages have commented on FLNC. Piper Sandler dropped their price target on shares of Fluence Energy from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Roth Mkm restated a “buy” rating and issued a $27.00 price target (down previously from $31.00) on shares of Fluence Energy in a research note on Friday, May 10th. Guggenheim lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, June 6th. Morgan Stanley dropped their price target on shares of Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, The Goldman Sachs Group dropped their price target on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.56.

Fluence Energy Price Performance

The stock’s 50 day moving average is $20.15 and its two-hundred day moving average is $19.37.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $623.14 million for the quarter, compared to analysts’ expectations of $538.42 million. Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. On average, equities analysts expect that Fluence Energy, Inc. will post 0.11 EPS for the current year.

Institutional Trading of Fluence Energy

Several large investors have recently added to or reduced their stakes in FLNC. Handelsbanken Fonder AB grew its stake in Fluence Energy by 145.5% during the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after buying an additional 1,706,808 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Fluence Energy by 41.0% during the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after purchasing an additional 1,605,345 shares in the last quarter. Clean Energy Transition LLP acquired a new position in shares of Fluence Energy during the fourth quarter worth approximately $32,124,000. Schroder Investment Management Group lifted its position in shares of Fluence Energy by 65.2% during the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock worth $61,950,000 after purchasing an additional 1,063,609 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Fluence Energy by 21.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock worth $75,086,000 after purchasing an additional 757,105 shares in the last quarter. 53.16% of the stock is owned by institutional investors.

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.