Fluence Energy (NASDAQ:FLNC) Downgraded by Roth Capital to “Hold”

Roth Capital cut shares of Fluence Energy (NASDAQ:FLNC) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Truist Financial cut their price objective on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $8.00 in a research note on Thursday. UBS Group downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $28.00 to $8.00 in a research report on Wednesday. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a research report on Friday, November 8th. Finally, Guggenheim cut shares of Fluence Energy from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $26.00 to $6.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Trading Down 6.7 %

Shares of NASDAQ FLNC opened at $6.53 on Wednesday. Fluence Energy has a 12-month low of $6.35 and a 12-month high of $26.12. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The stock’s 50 day simple moving average is $15.03 and its 200 day simple moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results 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 net margin of 0.89% and a return on equity of 4.10%. As a group, equities analysts forecast that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLNC. Envestnet Asset Management Inc. boosted its holdings in Fluence Energy by 47.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company’s stock valued at $211,000 after acquiring an additional 4,285 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Fluence Energy by 100.8% during the fourth quarter. Wedbush Securities Inc. now owns 19,519 shares of the company’s stock worth $310,000 after buying an additional 9,800 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fluence Energy during the fourth quarter worth approximately $433,000. ExodusPoint Capital Management LP bought a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $4,288,000. Finally, Cinctive Capital Management LP acquired a new stake in shares of Fluence Energy in the fourth quarter worth $1,870,000. 53.16% of the stock is owned by 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.