Fluence Energy (NASDAQ:FLNC) Rating Lowered to “Sector Perform” at Royal Bank of Canada

Fluence Energy (NASDAQ:FLNC) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have a $7.00 price objective on the stock, down from their prior price objective of $25.00. Royal Bank of Canada’s price target would indicate a potential upside of 13.27% from the company’s current price.

Several other research analysts have also issued reports on the company. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research report on Friday, November 8th. Barclays decreased their price objective on Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Truist Financial upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $22.00 to $10.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Trading Down 5.4 %

Fluence Energy stock opened at $6.18 on Wednesday. Fluence Energy has a 12-month low of $6.05 and a 12-month high of $26.12. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37. The firm has a 50 day moving average of $15.03 and a 200 day moving average of $18.07.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, February 10th. The company reported ($0.32) 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%. On average, analysts predict that Fluence Energy will post 0.48 EPS for the current year.

Insider Activity at Fluence Energy

In other 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 purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLNC. Sanders Morris Harris LLC acquired a new stake in shares of Fluence Energy during the 4th quarter worth about $812,000. Cidel Asset Management Inc. purchased a new stake in Fluence Energy in the fourth quarter valued at $350,000. SG Americas Securities LLC increased its position in Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after buying an additional 21,597 shares during the period. FMR LLC lifted its stake in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy in the third quarter valued at approximately $5,742,000. Hedge funds and other 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.