Fluence Energy (NASDAQ:FLNC) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a hold rating in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has $15.00 price objective on the stock, down from their previous price objective of $22.00.

A number of other brokerages have also recently issued reports on FLNC. Guggenheim reaffirmed a “buy” rating and set a $26.00 price objective on shares of Fluence Energy in a research note on Friday, December 6th. Bank of America reduced their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group cut their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.80.

Fluence Energy Stock Down 7.5 %

FLNC opened at $13.33 on Wednesday. The stock has a market cap of $2.41 billion, a PE ratio of 102.54, a P/E/G ratio of 0.47 and a beta of 2.42. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $26.12. The business’s fifty day simple moving average is $17.36 and its 200 day simple moving average is $18.55.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. As a group, equities analysts anticipate that Fluence Energy will post 0.55 earnings per share for the current year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently made changes to their positions in the business. Sanders Morris Harris LLC purchased a new position in shares of Fluence Energy during the fourth quarter valued at approximately $812,000. FMR LLC raised its holdings in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Fluence Energy in the 3rd quarter worth approximately $5,742,000. Erste Asset Management GmbH purchased a new position in Fluence Energy in the 3rd quarter worth approximately $22,059,000. Finally, XTX Topco Ltd purchased a new position in Fluence Energy in the 3rd quarter worth approximately $825,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.