Morgan Stanley Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $8.00

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by Morgan Stanley from $20.00 to $8.00 in a research note published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

FLNC has been the subject of a number of other reports. Susquehanna boosted their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Royal Bank of Canada cut shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $25.00 to $7.00 in a research report on Wednesday. Bank of America dropped their target price on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Price Performance

FLNC opened at $6.53 on Wednesday. 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. The firm has a fifty day moving average price of $15.03 and a 200 day moving average price of $18.07. Fluence Energy has a 1 year low of $6.35 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect 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 stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FLNC. Dynamic Technology Lab Private Ltd acquired a new position in Fluence Energy during the 4th quarter worth about $433,000. ExodusPoint Capital Management LP purchased a new stake in Fluence Energy during the fourth quarter worth about $4,288,000. Cinctive Capital Management LP acquired a new stake in shares of Fluence Energy during the fourth quarter worth about $1,870,000. Trexquant Investment LP boosted its stake in shares of Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after purchasing an additional 747,103 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Fluence Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock valued at $24,035,000 after purchasing an additional 5,216 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

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.