Fluence Energy (NASDAQ:FLNC) Lowered to Neutral Rating by UBS Group

UBS Group lowered shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. UBS Group currently has $8.00 price target on the stock, down from their prior price target of $28.00.

FLNC has been the topic of a number of other research reports. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $22.00 to $10.00 in a research note on Tuesday. Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, Bank of America reduced their price objective 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Fluence Energy currently has a consensus rating of “Hold” and an average target price of $15.21.

Fluence Energy Trading Down 6.7 %

NASDAQ FLNC opened at $6.53 on Wednesday. Fluence Energy has a 12-month low of $6.35 and a 12-month high of $26.12. The company has a fifty day simple moving average of $15.03 and a two-hundred day simple moving average of $18.07. The stock has a market cap of $1.18 billion, a P/E ratio of 50.23, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its 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%. As a group, sell-side analysts forecast that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLNC. Duff & Phelps Investment Management Co. increased its stake in Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after buying an additional 1,432 shares in the last quarter. US Bancorp DE boosted its stake in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its position 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 worth $352,000 after purchasing an additional 1,500 shares in the last quarter. Blue Trust Inc. increased its position in shares of Fluence Energy by 45.3% during the third 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 raised its stake in Fluence Energy by 1.6% in the 4th 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 during the last quarter. 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.