Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $10.00 at Susquehanna

Fluence Energy (NASDAQ:FLNC) had its target price cut by Susquehanna from $23.00 to $10.00 in a report published on Wednesday morning,Benzinga reports. They currently have a positive rating on the stock.

A number of other brokerages have also recently commented on FLNC. Canaccord Genuity Group reduced their price target on Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler decreased their target price on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research report on Friday, November 8th. Finally, Morgan Stanley dropped their target price on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Fluence Energy presently 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. The business has a 50-day simple moving average of $15.03 and a two-hundred day simple moving average of $18.07. 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. Fluence Energy has a fifty-two week low of $6.35 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results 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 return on equity of 4.10% and a net margin of 0.89%. As a group, research analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased 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 owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently added to or reduced their stakes in FLNC. Sanders Morris Harris LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $812,000. SG Americas Securities LLC increased its stake in shares of Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after buying an additional 21,597 shares during the period. FMR LLC grew its holdings in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Cidel Asset Management Inc. bought a new stake in shares of Fluence Energy in the 4th quarter valued at about $350,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy in the 3rd quarter worth approximately $5,742,000. 53.16% of the stock is currently owned by institutional investors.

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.