Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by Roth Capital

Fluence Energy (NASDAQ:FLNC) was downgraded by Roth Capital from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on the company. Morgan Stanley dropped their price target on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday. Susquehanna dropped their target price on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a report on Wednesday. Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Canaccord Genuity Group lowered their price target on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $22.00 to $10.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Fluence Energy presently has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Down 6.7 %

Shares of NASDAQ FLNC opened at $6.53 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The company’s 50-day simple moving average is $15.03 and its 200-day simple moving average is $18.07. Fluence Energy has a 52-week low of $6.35 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (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%. Equities research analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the last quarter. CWM LLC boosted its position in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new position in Fluence Energy during the 3rd quarter worth approximately $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Fluence Energy during the fourth quarter worth approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fluence Energy in the third quarter valued at approximately $87,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

About Fluence Energy

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.