Fluence Energy (NASDAQ:FLNC) Shares Down 7% – Should You Sell?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) traded down 7% on Tuesday . The company traded as low as $18.52 and last traded at $20.0150. 2,374,898 shares changed hands during trading, a decline of 60% from the average session volume of 5,900,869 shares. The stock had previously closed at $21.52.

Analysts Set New Price Targets

FLNC has been the topic of several research reports. Morgan Stanley boosted their price target on Fluence Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Bank of America boosted their price objective on Fluence Energy from $17.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group upped their target price on Fluence Energy from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Fluence Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, BNP Paribas Exane restated an “underperform” rating and issued a $9.00 price objective on shares of Fluence Energy in a research note on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $13.54.

Fluence Energy Price Performance

The company’s 50 day moving average price is $19.32 and its 200 day moving average price is $12.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -45.98 and a beta of 2.88.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.39 billion. Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. On average, equities research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Tudor Investment Corp ET AL bought a new position in Fluence Energy in the 3rd quarter valued at $4,062,000. Advisory Services Network LLC acquired a new stake in shares of Fluence Energy in the third quarter valued at $48,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Fluence Energy in the third quarter valued at about $14,207,000. Dark Forest Capital Management LP bought a new position in shares of Fluence Energy in the third quarter valued at about $723,000. Finally, PharVision Advisers LLC acquired a new position in Fluence Energy during the 3rd quarter worth about $377,000. 53.16% of the stock is currently 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.