Fluence Energy (NASDAQ:FLNC) Trading Down 5.4% After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) was down 5.4% during mid-day trading on Tuesday after Bank of America lowered their price target on the stock from $25.00 to $20.00. Bank of America currently has a buy rating on the stock. Fluence Energy traded as low as $13.15 and last traded at $12.96. Approximately 753,541 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,317,409 shares. The stock had previously closed at $13.69.

Several other equities research analysts also recently commented on the company. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Canaccord Genuity Group reduced their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, Piper Sandler raised their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Insider Activity

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought 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 directly owns 75,861 shares in the company, 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 hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Fluence Energy

Several large investors have recently made changes to their positions in FLNC. Mezzasalma Advisors LLC bought a new stake in shares of Fluence Energy during the 4th quarter worth $221,000. Cidel Asset Management Inc. bought a new position in Fluence Energy in the 4th quarter worth $350,000. Canal Insurance CO boosted its holdings in Fluence Energy by 15.0% during the fourth quarter. Canal Insurance CO now owns 300,000 shares of the company’s stock valued at $4,764,000 after acquiring an additional 39,200 shares during the period. KBC Group NV grew its position in shares of Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Fluence Energy in the fourth quarter worth about $340,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

The business has a 50 day moving average price of $16.65 and a 200 day moving average price of $18.41. The firm has a market capitalization of $2.40 billion, a P/E ratio of 101.92, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. As a group, equities analysts expect 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.