Piper Sandler Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by Piper Sandler from $20.00 to $10.00 in a research note released on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Guggenheim downgraded shares of Fluence Energy from a “buy” rating to a “sell” rating and cut their price target for the company from $26.00 to $6.00 in a report on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $22.00 to $10.00 in a report on Tuesday. Finally, Truist Financial upped 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. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Stock Performance

Fluence Energy stock opened at $6.53 on Wednesday. Fluence Energy has a one year low of $6.35 and a one year high of $26.12. The firm has a market capitalization 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 company has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $18.07.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share 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%. As a group, sell-side analysts forecast that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity

In related news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after buying an additional 110,256 shares in the last quarter. Clearbridge Investments LLC raised its position in Fluence Energy by 19.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after purchasing an additional 296,325 shares during the last quarter. FMR LLC boosted its stake in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after purchasing an additional 132,868 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Fluence Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock worth $24,035,000 after purchasing an additional 5,216 shares during the last quarter. Finally, Erste Asset Management GmbH increased its stake in shares of Fluence Energy by 15.5% in the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock valued at $18,058,000 after buying an additional 148,857 shares in the last quarter. 53.16% of the stock is owned by 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.