The Goldman Sachs Group Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $13.00

Fluence Energy (NASDAQ:FLNC) had its price target dropped by research analysts at The Goldman Sachs Group from $26.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 110.36% from the stock’s current price.

Several other brokerages have also recently issued reports on FLNC. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Citigroup cut their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $8.00 in a research note on Wednesday. Royal Bank of Canada lowered shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $25.00 to $7.00 in a research report on Wednesday. Finally, Susquehanna reduced their price objective on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Fluence Energy has an average rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Stock Down 5.4 %

Shares of NASDAQ FLNC opened at $6.18 on Wednesday. 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 twelve month low of $6.05 and a twelve month high of $26.12. The firm has a fifty day simple moving average of $15.03 and a 200 day simple moving average of $18.07.

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

Insider Activity

In related news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC bought a new position in shares of Fluence Energy in the fourth quarter worth approximately $812,000. Cidel Asset Management Inc. purchased a new position in shares of Fluence Energy during the 4th quarter valued at $350,000. SG Americas Securities LLC boosted its holdings in Fluence Energy by 79.2% in the 4th 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 boosted its holdings in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Fluence Energy in the 3rd quarter worth $5,742,000. 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.