Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by Wolfe Research

Fluence Energy (NASDAQ:FLNC) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Wednesday, Marketbeat.com reports.

FLNC has been the topic of several other research reports. Citigroup lowered their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays lowered their price objective on shares of Fluence Energy from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. Bank of America cut their price objective on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Robert W. Baird reiterated 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. Finally, Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Performance

FLNC opened at $6.18 on Wednesday. The stock’s fifty day moving average is $15.03 and its 200-day moving average is $18.07. The company has a market capitalization of $1.12 billion, a PE ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a one year low of $6.05 and a one year high of $26.12.

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

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sanders Morris Harris LLC acquired a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $812,000. Cidel Asset Management Inc. bought a new position in Fluence Energy during the fourth quarter worth $350,000. SG Americas Securities LLC raised its position in shares of Fluence Energy by 79.2% in the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after purchasing an additional 21,597 shares during the period. FMR LLC boosted its holdings in shares of Fluence Energy by 9.0% during the third 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 period. Finally, Principal Financial Group Inc. bought a new position in Fluence Energy during the 3rd quarter worth $5,742,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.