Roth Capital Downgrades Fluence Energy (NASDAQ:FLNC) to Hold

Roth Capital cut shares of Fluence Energy (NASDAQ:FLNC) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on FLNC. Truist Financial cut their target price on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. UBS Group lowered Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $28.00 to $8.00 in a research note on Wednesday. Finally, Morgan Stanley reduced their target price on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Stock Down 6.7 %

Shares of NASDAQ:FLNC opened at $6.53 on Wednesday. Fluence Energy has a 12 month low of $6.35 and a 12 month high of $26.12. The firm has a market cap of $1.18 billion, a P/E ratio of 50.23, a P/E/G ratio of 0.49 and a beta of 2.37. The company’s 50-day moving average price is $15.03 and its two-hundred day moving average price is $18.07.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 analysts predict that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.65% of the stock is owned by insiders.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Erste Asset Management GmbH bought a new position in Fluence Energy in the third quarter valued at $22,059,000. Point72 Asset Management L.P. acquired a new position in shares of Fluence Energy during the 3rd quarter worth about $21,809,000. Trexquant Investment LP grew its holdings in shares of Fluence Energy by 577.5% in the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after acquiring an additional 747,103 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after acquiring an additional 296,325 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Fluence Energy in the fourth quarter valued at about $4,288,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.