Fluence Energy (NASDAQ:FLNC) Price Target Cut to $20.00 by Analysts at Bank of America

Fluence Energy (NASDAQ:FLNC) had its price target cut by Bank of America from $25.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Barclays cut their price target on shares of Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. 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. Finally, Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.60.

Fluence Energy Stock Down 7.6 %

Shares of Fluence Energy stock opened at $12.65 on Tuesday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 97.31, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42. Fluence Energy has a twelve month low of $12.43 and a twelve month high of $26.12. The company has a 50-day simple moving average of $16.82 and a two-hundred day simple moving average of $18.44.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company posted $0.02 earnings per share. The firm’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Fluence Energy will post 0.55 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently bought and sold shares of the company. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares in the last quarter. CWM LLC increased its holdings in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Fluence Energy during the 3rd quarter worth approximately $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Fluence Energy during the 4th quarter worth approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy in the 3rd quarter valued at $87,000. 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.