Fluence Energy (NASDAQ:FLNC) Reaches New 1-Year Low at $12.74

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price hit a new 52-week low on Monday . The company traded as low as $12.74 and last traded at $14.06, with a volume of 363470 shares. The stock had previously closed at $14.67.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FLNC. Piper Sandler decreased their price objective on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price objective on shares of Fluence Energy in a report on Friday, June 14th. Roth Mkm restated a “buy” rating and issued a $27.00 target price (down from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. Evercore ISI lowered their price objective on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Finally, Bank of America cut their target price on Fluence Energy from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.76.

Fluence Energy Price Performance

The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -36.85 and a beta of 2.50. The business’s fifty day simple moving average is $19.11 and its 200 day simple moving average is $18.19.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The business had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. As a group, equities analysts forecast that Fluence Energy, Inc. will post 0.1 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

Several hedge funds have recently bought and sold shares of FLNC. PARK CIRCLE Co acquired a new stake in Fluence Energy in the 2nd quarter valued at approximately $28,000. Rhumbline Advisers increased its holdings in shares of Fluence Energy by 19.1% during the second quarter. Rhumbline Advisers now owns 93,380 shares of the company’s stock valued at $1,619,000 after purchasing an additional 14,992 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of Fluence Energy during the second quarter valued at $109,000. Banque Cantonale Vaudoise raised its stake in shares of Fluence Energy by 148.5% during the second quarter. Banque Cantonale Vaudoise now owns 26,280 shares of the company’s stock valued at $455,000 after purchasing an additional 15,704 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in Fluence Energy by 6.0% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 52,531 shares of the company’s stock valued at $911,000 after buying an additional 2,978 shares in the last quarter. 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.