Fluence Energy (NASDAQ:FLNC) Given New $2.00 Price Target at Guggenheim

Fluence Energy (NASDAQ:FLNC) had its price target reduced by Guggenheim from $6.00 to $2.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. Guggenheim’s price objective would suggest a potential downside of 47.30% from the company’s current price.

Several other equities analysts also recently weighed in on the company. The Goldman Sachs Group dropped their target price on Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Barclays restated an “equal weight” rating and issued a $5.00 price objective (down previously from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Bank of America lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $8.00 in a report on Thursday, February 13th. Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.62.

Fluence Energy Trading Down 6.5 %

Shares of Fluence Energy stock traded down $0.27 on Tuesday, reaching $3.80. The company had a trading volume of 715,799 shares, compared to its average volume of 5,677,750. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market cap of $688.98 million, a PE ratio of -76.10 and a beta of 2.48. The firm’s 50 day moving average price is $5.84 and its two-hundred day moving average price is $13.91. Fluence Energy has a 52-week low of $3.63 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly 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 negative return on equity of 0.36% and a negative net margin of 0.08%. Sell-side analysts predict that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the transaction, the director now directly owns 115,861 shares in the company, valued at $626,808.01. This trade represents a 9.45 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Julian Nebreda acquired 23,500 shares of the stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the transaction, the chief executive officer now directly owns 120,455 shares in the company, valued at $764,889.25. The trade was a 24.24 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 79,000 shares of company stock worth $499,665. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FLNC. HighTower Advisors LLC lifted its holdings in shares of Fluence Energy by 28.6% during the third quarter. HighTower Advisors LLC now owns 18,865 shares of the company’s stock worth $428,000 after purchasing an additional 4,190 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Fluence Energy in the 3rd quarter worth $175,000. Barclays PLC increased its stake in shares of Fluence Energy by 296.8% during the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after acquiring an additional 135,957 shares during the period. Geode Capital Management LLC raised its holdings in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after purchasing an additional 60,633 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Fluence Energy by 11.8% in the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after purchasing an additional 17,551 shares during the period. 53.16% of the stock is currently owned by hedge funds and other 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.