Fluence Energy (NASDAQ:FLNC) Price Target Cut to $13.00 by Analysts at Truist Financial

Fluence Energy (NASDAQ:FLNC) had its price target trimmed by Truist Financial from $28.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on FLNC. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a report on Friday, November 8th. UBS Group cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $28.00 to $8.00 in a research report on Wednesday. Wolfe Research lowered shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $25.00 to $7.00 in a report on Wednesday. Finally, BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and cut their target price for the company from $22.00 to $10.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Trading Down 6.7 %

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

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) 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 research analysts predict that Fluence Energy will post 0.48 EPS for the current year.

Insider Activity

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several hedge funds and other institutional investors have recently made changes to their positions in FLNC. Erste Asset Management GmbH acquired a new stake in Fluence Energy in the third quarter valued at about $22,059,000. Point72 Asset Management L.P. acquired a new position in Fluence Energy during the third quarter worth $21,809,000. Trexquant Investment LP grew its holdings in Fluence Energy by 577.5% during the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock worth $13,918,000 after acquiring an additional 747,103 shares during the period. Clearbridge Investments LLC raised its position in Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after acquiring an additional 296,325 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Fluence Energy in the fourth quarter valued at $4,288,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.