Fluence Energy (NASDAQ:FLNC) Downgraded by BMO Capital Markets to “Market Perform”

Fluence Energy (NASDAQ:FLNC) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report released on Tuesday, Marketbeat Ratings reports. They currently have a $10.00 target price on the stock, down from their prior target price of $22.00. BMO Capital Markets’ price objective points to a potential upside of 53.14% from the stock’s current price.

A number of other brokerages have also recently commented on FLNC. Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Bank of America dropped their target price on Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. 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 report on Wednesday, October 16th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a report on Friday, November 8th. Finally, Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.21.

Fluence Energy Price Performance

NASDAQ:FLNC opened at $6.53 on Tuesday. The company has a market capitalization of $1.18 billion, a P/E ratio of 50.23, a P/E/G ratio of 0.49 and a beta of 2.37. The business has a fifty day simple moving average of $15.03 and a two-hundred day simple moving average of $18.07. Fluence Energy has a 1 year low of $6.35 and a 1 year high of $26.12.

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

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluence Energy

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