Piper Sandler Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price objective reduced by research analysts at Piper Sandler from $20.00 to $10.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 61.81% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Citigroup reduced their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research report on Friday, November 8th. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Susquehanna boosted their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $25.00 to $7.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Fluence Energy currently has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $6.18 on Wednesday. The company’s 50 day moving average price is $15.03 and its two-hundred day moving average price is $18.07. The firm 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 fifty-two week low of $6.05 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted 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 expect that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was acquired 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

A number of institutional investors have recently added to or reduced their stakes in FLNC. Altshuler Shaham Ltd purchased a new position in Fluence Energy during the 4th quarter valued at about $34,000. US Bancorp DE lifted its holdings 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 worth $38,000 after buying an additional 1,475 shares in the last quarter. CWM LLC boosted its position in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new position in Fluence Energy during the third quarter valued at approximately $74,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in Fluence Energy during the 4th quarter worth approximately $79,000. 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.