Fluence Energy (NASDAQ:FLNC) Given New $10.00 Price Target at Citigroup

Fluence Energy (NASDAQ:FLNC) had its target price reduced by Citigroup from $24.00 to $10.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 43.78% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Canaccord Genuity Group cut their target price on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Bank of America decreased their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler lifted their target price on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Finally, Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and decreased their target price for the company from $26.00 to $6.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.15.

Fluence Energy Price Performance

Shares of FLNC stock traded down $6.12 during trading hours on Tuesday, hitting $6.96. 26,416,630 shares of the company’s stock were exchanged, compared to its average volume of 4,467,613. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 52.31, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The stock’s 50-day moving average is $15.58 and its 200-day moving average is $18.23. Fluence Energy has a 52 week low of $6.64 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Equities research analysts forecast that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its position in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the last quarter. CWM LLC lifted its holdings in shares of Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Fluence Energy in the third quarter valued at about $74,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy during the fourth quarter worth about $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy in the 3rd quarter worth about $87,000. Institutional investors own 53.16% of the company’s stock.

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.