Fluence Energy (NASDAQ:FLNC) Announces Quarterly Earnings Results

Fluence Energy (NASDAQ:FLNC) posted its earnings results on Wednesday. The company reported ($0.24) earnings per share for the quarter, Zacks reports. The company had revenue of $649.85 million for the quarter, compared to analysts’ expectations of $819.15 million. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.23%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 EPS.

Fluence Energy Stock Down 0.5%

Shares of Fluence Energy stock traded down $0.07 during midday trading on Friday, hitting $13.14. The company had a trading volume of 6,352,107 shares, compared to its average volume of 8,283,198. The company has a 50 day moving average of $18.71 and a 200 day moving average of $18.36. The stock has a market capitalization of $2.42 billion, a P/E ratio of -21.55 and a beta of 2.78. Fluence Energy has a 52-week low of $6.60 and a 52-week high of $33.51. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.91 and a current ratio of 1.43.

Insider Activity at Fluence Energy

In other news, SVP John Zahurancik sold 15,974 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total value of $351,907.22. Following the transaction, the senior vice president owned 71,171 shares in the company, valued at approximately $1,567,897.13. This represents a 18.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $21.00, for a total value of $60,210,612.00. Following the completion of the transaction, the insider directly owned 11,801,103 shares in the company, valued at $247,823,163. This trade represents a 19.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 2,904,146 shares of company stock valued at $61,090,399. 0.69% of the stock is owned by insiders.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNC. State of Wyoming bought a new position in shares of Fluence Energy in the fourth quarter worth about $36,000. Golden State Wealth Management LLC bought a new stake in shares of Fluence Energy in the fourth quarter valued at about $85,000. Advisory Services Network LLC bought a new stake in shares of Fluence Energy in the third quarter valued at about $48,000. Quantbot Technologies LP bought a new position in shares of Fluence Energy in the 3rd quarter worth $51,000. Finally, Quarry LP grew its position in shares of Fluence Energy by 4,371.4% in the 3rd quarter. Quarry LP now owns 5,947 shares of the company’s stock worth $64,000 after buying an additional 5,814 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FLNC shares. Citigroup raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and lowered their target price for the company from $26.00 to $24.00 in a research note on Wednesday, July 22nd. Susquehanna upped their target price on shares of Fluence Energy from $23.00 to $25.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. HSBC raised Fluence Energy from a “reduce” rating to a “hold” rating and set a $19.00 target price on the stock in a research note on Friday, May 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $15.00 price target on shares of Fluence Energy in a research note on Wednesday, April 29th. Finally, Truist Financial began coverage on shares of Fluence Energy in a research report on Monday, July 13th. They set a “hold” rating and a $16.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.79.

About Fluence Energy

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.