Fluence Energy (NASDAQ:FLNC) Lowered to Peer Perform Rating by Wolfe Research

Fluence Energy (NASDAQ:FLNC) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

FLNC has been the subject of a number of other reports. Royal Bank of Canada decreased their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Canaccord Genuity Group decreased their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 29th. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Truist Financial boosted 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, Guggenheim downgraded Fluence Energy from a “buy” rating to a “sell” rating and reduced their target price for the company from $26.00 to $6.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.50.

Fluence Energy Trading Down 46.4 %

NASDAQ:FLNC opened at $7.00 on Wednesday. The firm has a market cap of $1.27 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The stock has a fifty day moving average price of $15.47 and a 200 day moving average price of $18.22. Fluence Energy has a 12-month low of $6.56 and a 12-month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (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%. Equities analysts forecast that Fluence Energy will post 0.48 EPS for the current year.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluence Energy

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