Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by BMO Capital Markets

Fluence Energy (NASDAQ:FLNC) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Tuesday,Briefing.com Automated Import reports. They presently have a $10.00 price objective on the stock, down from their prior price objective of $22.00. BMO Capital Markets’ target price points to a potential downside of 23.49% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Barclays cut their price target on Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Piper Sandler boosted their price target on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Susquehanna upped their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Bank of America dropped their target price on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group dropped their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.85.

Fluence Energy Price Performance

Fluence Energy stock opened at $13.07 on Tuesday. Fluence Energy has a 1-year low of $11.89 and a 1-year high of $26.12. The company has a market cap of $2.37 billion, a PE ratio of 100.54, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The stock’s 50 day moving average price is $15.58 and its 200 day moving average price is $18.23.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results 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 return on equity of 4.10% and a net margin of 0.89%. On average, equities research analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. 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 currently owned by company insiders.

Institutional Trading of Fluence Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of 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 boosted its stake in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy during the 3rd quarter valued at $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy during the 3rd quarter valued at $87,000. Finally, Blue Trust Inc. boosted its stake in shares of 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 acquiring an additional 1,502 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.