Fluence Energy (NASDAQ:FLNC) Reaches New 1-Year Low on Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price reached a new 52-week low on Wednesday after Bank of America lowered their price target on the stock from $25.00 to $20.00. Bank of America currently has a buy rating on the stock. Fluence Energy traded as low as $12.43 and last traded at $12.65, with a volume of 3580022 shares traded. The stock had previously closed at $13.69.

FLNC has been the subject of a number of other research reports. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research note on Friday, November 8th. Canaccord Genuity Group reduced their price objective on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Royal Bank of Canada dropped their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Truist Financial raised their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE increased 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 purchasing an additional 1,475 shares in the last quarter. CWM LLC lifted its stake in shares of 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 buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy in the 3rd quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Fluence Energy in the 4th quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Fluence Energy during the third quarter valued at about $87,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

The firm has a market capitalization of $2.50 billion, a PE ratio of 106.31, a P/E/G ratio of 0.44 and a beta of 2.42. The company has a 50-day moving average price of $16.50 and a 200 day moving average price of $18.37.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.02 EPS. The firm’s revenue was up 82.5% compared to the same quarter last year. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.55 earnings per share for the current year.

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.