Fluence Energy (NASDAQ:FLNC) Downgraded by Guggenheim to Sell

Fluence Energy (NASDAQ:FLNC) was downgraded by stock analysts at Guggenheim from a “buy” rating to a “sell” rating in a report issued on Tuesday, MarketBeat reports. They currently have a $6.00 price target on the stock, down from their prior price target of $26.00. Guggenheim’s price objective points to a potential downside of 8.12% from the stock’s current price.

A number of other analysts have also commented on FLNC. Canaccord Genuity Group lowered 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. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Truist Financial increased their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. One investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.21.

Fluence Energy Trading Down 6.7 %

Shares of FLNC stock opened at $6.53 on Tuesday. Fluence Energy has a 1 year low of $6.35 and a 1 year high of $26.12. The firm’s 50 day moving average is $15.03 and its 200-day moving average is $18.07. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data 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%. On average, equities research analysts forecast that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Herman E. Bulls purchased 10,000 shares of the business’s 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 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Morris Harris LLC bought a new position in shares of Fluence Energy during the 4th quarter worth approximately $812,000. SG Americas Securities LLC grew its position in Fluence Energy by 79.2% in the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after purchasing an additional 21,597 shares in the last quarter. FMR LLC increased 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 buying an additional 132,868 shares during the last quarter. Cidel Asset Management Inc. bought a new stake in Fluence Energy during the 4th quarter worth about $350,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Fluence Energy during the 3rd quarter worth 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.