Fluence Energy (NASDAQ:FLNC) Trading Down 5.9% Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price fell 5.9% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $28.00 to $22.00. Barclays currently has an overweight rating on the stock. Fluence Energy traded as low as $13.43 and last traded at $13.56. 807,568 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,212,205 shares. The stock had previously closed at $14.41.

A number of other research firms have also recently commented on FLNC. Royal Bank of Canada cut their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Piper Sandler boosted their price objective on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research report on Friday, November 8th. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $15.00 in a research report on Wednesday. Finally, Bank of America cut their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.80.

Insider Activity

In other news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently bought and sold shares of the stock. US Bancorp DE increased its holdings in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the period. CWM LLC increased its holdings in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new stake in Fluence Energy during the 3rd quarter worth about $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Fluence Energy during the 4th quarter worth about $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fluence Energy in the 3rd quarter valued at about $87,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Down 7.5 %

The firm has a market cap of $2.41 billion, a PE ratio of 102.54, a P/E/G ratio of 0.47 and a beta of 2.42. The business has a fifty day moving average price of $17.36 and a 200 day moving average price of $18.55.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, research analysts expect that Fluence Energy, Inc. will post 0.55 earnings per share for the current fiscal year.

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.