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

Fluence Energy (NASDAQ:FLNC) had its price target reduced by equities research analysts at Susquehanna from $23.00 to $10.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 61.81% from the company’s previous close.

A number of other brokerages have also recently commented on FLNC. Truist Financial raised their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Roth Mkm cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $6.50 in a report on Wednesday. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a report on Friday, November 8th. Finally, Canaccord Genuity Group decreased their price target on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Price Performance

NASDAQ:FLNC opened at $6.18 on Wednesday. The company’s 50-day moving average is $15.03 and its two-hundred day moving average is $18.07. Fluence Energy has a 1-year low of $6.05 and a 1-year high of $26.12. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) 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%. As a group, equities analysts anticipate that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now directly 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 can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

A number of hedge funds have recently made changes to their positions in FLNC. The Manufacturers Life Insurance Company boosted its stake in shares of Fluence Energy by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock valued at $617,000 after purchasing an additional 2,389 shares during the period. CWM LLC lifted its holdings in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares in the last quarter. Renaissance Capital LLC boosted its position in Fluence Energy by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock valued at $1,480,000 after buying an additional 10,881 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after acquiring an additional 1,502 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Fluence Energy by 2,170.9% during the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock worth $245,000 after acquiring an additional 10,312 shares during the last quarter. 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.