Fluence Energy (NASDAQ:FLNC) Given New $13.00 Price Target at Truist Financial

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by Truist Financial from $28.00 to $13.00 in a research note published on Wednesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other research analysts have also weighed in on FLNC. Barclays cut their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Morgan Stanley decreased their target price on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday. Bank of America cut their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Royal Bank of Canada lowered shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $25.00 to $7.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Performance

Shares of 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 stock has a market cap of $1.18 billion, a PE ratio of 50.23, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The business’s fifty day moving average price is $15.03 and its two-hundred day moving average price is $18.07.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. As a group, equities research analysts predict that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Fluence Energy by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after buying an additional 110,256 shares in the last quarter. Clearbridge Investments LLC boosted its position in Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after acquiring an additional 296,325 shares during the period. FMR LLC grew its stake in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fluence Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock valued at $24,035,000 after purchasing an additional 5,216 shares during the period. Finally, Erste Asset Management GmbH lifted its position in shares of Fluence Energy by 15.5% in the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock worth $18,058,000 after purchasing an additional 148,857 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.