Fluence Energy (NASDAQ:FLNC) Shares Down 5.4% After Analyst Downgrade

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) traded down 5.4% during mid-day trading on Tuesday after Bank of America lowered their price target on the stock from $25.00 to $20.00. Bank of America currently has a buy rating on the stock. Fluence Energy traded as low as $13.15 and last traded at $12.96. 753,541 shares were traded during trading, a decline of 77% from the average session volume of 3,317,409 shares. The stock had previously closed at $13.69.

A number of other brokerages also recently commented on FLNC. Canaccord Genuity Group lowered their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a research note on Friday, December 6th. Truist Financial lifted their price objective on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada cut their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy presently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mezzasalma Advisors LLC bought a new stake in Fluence Energy in the 4th quarter worth about $221,000. Cidel Asset Management Inc. purchased a new position in shares of Fluence Energy during the 4th quarter valued at $350,000. Canal Insurance CO boosted its position in Fluence Energy by 15.0% during the fourth quarter. Canal Insurance CO now owns 300,000 shares of the company’s stock worth $4,764,000 after purchasing an additional 39,200 shares during the period. KBC Group NV grew its holdings in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after buying an additional 1,671 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Fluence Energy in the fourth quarter worth $340,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Stock Down 7.6 %

The firm’s 50-day simple moving average is $16.82 and its 200-day simple moving average is $18.44. The firm has a market capitalization of $2.29 billion, a P/E ratio of 97.31, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. As a group, analysts expect that Fluence Energy, Inc. will post 0.55 EPS for the current fiscal year.

About Fluence Energy

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.