Fluence Energy (NASDAQ:FLNC) Price Target Cut to $22.00 by Analysts at Barclays

Fluence Energy (NASDAQ:FLNC) had its price objective reduced by stock analysts at Barclays from $28.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 52.67% from the stock’s current price.

A number of other equities research analysts have also issued reports on FLNC. Canaccord Genuity Group reduced their target price on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Susquehanna lifted their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $15.00 in a research note on Wednesday. Finally, Royal Bank of Canada cut their target price on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of “Moderate Buy” and a consensus target price of $25.80.

Fluence Energy Stock Down 0.2 %

Shares of NASDAQ FLNC opened at $14.41 on Wednesday. The business’s 50 day moving average is $17.62 and its two-hundred day moving average is $18.60. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $26.12. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 110.85, a PEG ratio of 0.47 and a beta of 2.42.

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

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were bought at an average cost 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently made changes to their positions in the business. Sanders Morris Harris LLC acquired a new stake in Fluence Energy during the 4th quarter worth approximately $812,000. FMR LLC lifted its holdings in shares of Fluence Energy by 9.0% during 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 during the period. Principal Financial Group Inc. purchased a new position in Fluence Energy in the 3rd quarter valued at $5,742,000. Erste Asset Management GmbH acquired a new position in Fluence Energy in the 3rd quarter valued at $22,059,000. Finally, XTX Topco Ltd purchased a new position in Fluence Energy during the 3rd quarter worth $825,000. 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.