Morgan Stanley Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price target dropped by Morgan Stanley from $20.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 29.45% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada cut shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $25.00 to $7.00 in a report on Wednesday. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Bank of America reduced their price target on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Roth Mkm lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $6.50 in a report on Wednesday. Finally, Susquehanna raised their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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. Fluence Energy has a one year low of $6.05 and a one year high of $26.12. The stock has a market capitalization of $1.12 billion, a P/E ratio of 47.54, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The business’s 50-day simple moving average is $15.03 and its 200-day simple moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last released its quarterly 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 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

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average price 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 approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new position in Fluence Energy during the 4th quarter valued at approximately $1,469,000. Altshuler Shaham Ltd acquired a new stake in Fluence Energy in the fourth quarter worth $34,000. Marshall Wace LLP lifted its stake in Fluence Energy by 22.9% in the fourth quarter. Marshall Wace LLP now owns 40,688 shares of the company’s stock valued at $646,000 after buying an additional 7,588 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Fluence Energy by 459.3% during the fourth quarter. Jump Financial LLC now owns 267,616 shares of the company’s stock valued at $4,250,000 after acquiring an additional 219,770 shares during the period. Finally, XTX Topco Ltd grew its position in shares of Fluence Energy by 58.9% during the fourth quarter. XTX Topco Ltd now owns 57,742 shares of the company’s stock worth $917,000 after acquiring an additional 21,401 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.