Fluence Energy (NASDAQ:FLNC) Trading Down 5.9% Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price traded down 5.9% on Wednesday after Barclays lowered their price target on the stock from $28.00 to $22.00. Barclays currently has an overweight rating on the stock. Fluence Energy traded as low as $13.43 and last traded at $13.56. 807,568 shares were traded during trading, a decline of 75% from the average session volume of 3,212,205 shares. The stock had previously closed at $14.41.

FLNC has been the subject of a number of other reports. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada decreased their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Piper Sandler increased their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Finally, Truist Financial increased their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.80.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in FLNC. US Bancorp DE increased its holdings in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the last quarter. CWM LLC increased its holdings in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Fluence Energy during the 3rd quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Fluence Energy during the 4th quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy in the 3rd quarter valued at $87,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 102.54, a P/E/G ratio of 0.47 and a beta of 2.42. The firm has a fifty day moving average of $17.36 and a 200-day moving average of $18.55.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 82.5% compared to the same quarter last year. On average, analysts predict that Fluence Energy, Inc. will post 0.55 EPS for the current year.

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.