Competitive PressuresRecent results demonstrate FLNC is not benefiting from positive trends in the sector, creating uncertainty around the company's ability to execute as the market becomes more competitive.
Revenue GuidanceFluence's revenue guidance was cut by about 20% for FY25, driven by a pause in U.S. contracting due to high tariffs on Chinese cells.
Valuation ConcernsThe stock is downgraded to 'Underperform' due to a valuation disconnect and wider slowing of industry outlook.