Canaccord Genuity Group Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $14.00

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by equities researchers at Canaccord Genuity Group from $34.00 to $14.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 126.54% from the company’s previous close.

Several other brokerages have also recently issued reports on FLNC. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Bank of America decreased their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Barclays lowered their price objective on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial lifted their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Guggenheim lowered shares of Fluence Energy from a “buy” rating to a “sell” rating and lowered their price target for the company from $26.00 to $6.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Performance

Shares of FLNC opened at $6.18 on Wednesday. The stock has a market capitalization of $1.12 billion, a P/E ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 1 year low of $6.05 and a 1 year high of $26.12. The company’s fifty day moving average is $15.03 and its two-hundred day moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last released its 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 return on equity of 4.10% and a net margin of 0.89%. Sell-side analysts predict that Fluence Energy will post 0.48 EPS for the current year.

Insider Activity

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Sanders Morris Harris LLC bought a new stake in Fluence Energy during the fourth quarter worth approximately $812,000. Cidel Asset Management Inc. acquired a new stake in shares of Fluence Energy during the 4th quarter valued at $350,000. SG Americas Securities LLC boosted its stake in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after acquiring an additional 21,597 shares in the last quarter. FMR LLC grew its holdings in shares of Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy during the third quarter worth $5,742,000. 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.