Fluence Energy (NASDAQ:FLNC) Cut to Sell at Guggenheim

Guggenheim lowered shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a sell rating in a report issued on Tuesday, Marketbeat reports. The brokerage currently has $6.00 price objective on the stock, down from their previous price objective of $26.00.

A number of other research firms also recently weighed in on FLNC. Barclays cut their price target on Fluence Energy from $28.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 22nd. Canaccord Genuity Group decreased their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Susquehanna upped their price target on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Finally, Piper Sandler upped their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Trading Down 5.4 %

Shares of NASDAQ:FLNC opened at $6.18 on Tuesday. Fluence Energy has a 1-year low of $6.05 and a 1-year high of $26.12. The stock 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. The business has a 50-day moving average price of $15.03 and a two-hundred day moving average price of $18.07.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly 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 predict that Fluence Energy will post 0.48 EPS for the current year.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls acquired 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, for a total transaction of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNC. Duff & Phelps Investment Management Co. raised its position in shares of Fluence Energy by 5.6% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock valued at $432,000 after buying an additional 1,432 shares in the last quarter. US Bancorp DE lifted its stake in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the period. Lazard Freres Gestion S.A.S. increased its holdings in shares of Fluence Energy by 7.3% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock valued at $352,000 after acquiring an additional 1,500 shares in the last quarter. Blue Trust Inc. increased its holdings in Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

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.