Bank of America Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $20.00

Fluence Energy (NASDAQ:FLNC) had its price objective cut by equities research analysts at Bank of America from $25.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 54.74% from the stock’s current price.

Several other equities analysts have also weighed in on FLNC. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. Susquehanna lifted their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Truist Financial lifted their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Fluence Energy Stock Performance

Shares of Fluence Energy stock traded down $0.77 during trading on Tuesday, hitting $12.93. 1,089,170 shares of the company’s stock were exchanged, compared to its average volume of 3,340,414. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 99.96, a PEG ratio of 0.44 and a beta of 2.42. The business has a 50-day simple moving average of $16.99 and a 200-day simple moving average of $18.48. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. On average, equities analysts anticipate that Fluence Energy will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction 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 purchase, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC boosted its holdings in Fluence Energy by 3.8% in the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after purchasing an additional 897 shares during the last quarter. US Bancorp DE boosted its position in shares of Fluence Energy by 676.6% during the 3rd 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 period. Blue Trust Inc. increased its holdings in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after purchasing an additional 1,502 shares during the last quarter. KBC Group NV lifted its stake in Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after purchasing an additional 1,671 shares in the last quarter. Finally, CWM LLC lifted its stake in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares in the last quarter. Hedge funds and other institutional investors 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.