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

Fluence Energy (NASDAQ:FLNC) was downgraded by equities research analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $22.00 to $10.00 in a report on Tuesday. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $6.50 in a research note on Wednesday. Morgan Stanley reduced their price target on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $25.00 to $7.00 in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their price target on Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy has a consensus rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $6.53 on Wednesday. Fluence Energy has a one year low of $6.35 and a one year high of $26.12. The company has a market capitalization 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 company’s 50-day simple moving average is $15.03 and its two-hundred day simple moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last issued 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 net margin of 0.89% and a return on equity of 4.10%. Equities analysts expect that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluence Energy

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. Blue Trust Inc. grew its position in shares of Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after acquiring an additional 1,502 shares during the period. International Assets Investment Management LLC increased its stake in shares of Fluence Energy by 2,170.9% in the 3rd quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after purchasing an additional 10,312 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Fluence Energy in the 3rd quarter worth about $1,375,000. Finally, US Bancorp DE raised its holdings in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.