Fluence Energy (NASDAQ:FLNC) Reaches New 52-Week Low on Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) shares reached a new 52-week low during trading on Wednesday 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 $12.43 and last traded at $12.65, with a volume of 3580022 shares. The stock had previously closed at $13.69.

FLNC has been the topic of several other reports. Royal Bank of Canada reduced their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research report on Friday, November 8th. Susquehanna increased their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Barclays cut their price objective on Fluence Energy from $28.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, January 22nd. Finally, Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $24.00 in a report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.60.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the purchase, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of FLNC. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares in the last quarter. CWM LLC increased its stake 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 acquiring an additional 1,767 shares during the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy in the third quarter valued at approximately $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy in the third quarter valued at approximately $87,000. Finally, Blue Trust Inc. increased its stake in Fluence Energy by 45.3% in the third 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 last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Up 4.7 %

The business’s 50 day moving average is $16.65 and its 200-day moving average is $18.41. The firm has a market capitalization of $2.40 billion, a P/E ratio of 101.92, a PEG ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Research analysts forecast that Fluence Energy, Inc. will post 0.55 EPS for the current fiscal 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.