Fluence Energy (NASDAQ:FLNC) Downgraded by JPMorgan Chase & Co. to Neutral

JPMorgan Chase & Co. cut shares of Fluence Energy (NASDAQ:FLNC) from an overweight rating to a neutral rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has $7.00 price target on the stock, down from their prior price target of $14.00.

A number of other research firms also recently commented on FLNC. UBS Group downgraded Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $8.00 in a report on Wednesday, February 12th. Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $26.00 to $6.00 in a research note on Tuesday, February 11th. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Susquehanna reduced their price target on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a research report on Wednesday, February 12th. Finally, Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.79.

Fluence Energy Stock Up 7.8 %

FLNC stock opened at $4.16 on Friday. The company has a market capitalization of $755.24 million, a P/E ratio of -83.20 and a beta of 2.48. The firm has a 50 day simple moving average of $6.00 and a 200-day simple moving average of $14.10. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy has a twelve month low of $3.63 and a twelve month 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 negative return on equity of 0.36% and a negative net margin of 0.08%. On average, equities research analysts predict that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls acquired 30,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the acquisition, the director now directly owns 105,861 shares of the company’s stock, valued at approximately $691,272.33. The trade was a 39.55 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Julian Nebreda acquired 23,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the purchase, the chief executive officer now directly owns 120,455 shares of the company’s stock, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 79,000 shares of company stock valued at $499,665. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several institutional investors have recently modified their holdings of FLNC. Altshuler Shaham Ltd acquired a new position in Fluence Energy during the fourth quarter worth about $34,000. Alpha Wealth Funds LLC bought a new position in shares of Fluence Energy during the 1st quarter valued at about $63,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $79,000. Tower Research Capital LLC TRC raised its holdings in shares of Fluence Energy by 827.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock worth $88,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Morse Asset Management Inc bought a new stake in shares of Fluence Energy in the 3rd quarter worth approximately $175,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.