Fluence Energy (NASDAQ:FLNC) Downgraded to Hold Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a hold rating in a report published on Wednesday, MarketBeat reports. The brokerage currently has $15.00 price objective on the stock, down from their prior price objective of $22.00.

A number of other brokerages have also commented on FLNC. Royal Bank of Canada decreased their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Canaccord Genuity Group reduced their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 29th. Truist Financial upped their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.80.

Fluence Energy Stock Performance

Shares of FLNC opened at $13.33 on Wednesday. The stock has a 50 day moving average price of $17.36 and a two-hundred day moving average price of $18.55. The firm has a market capitalization of $2.41 billion, a P/E ratio of 102.54, a P/E/G ratio of 0.47 and a beta of 2.42. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.02 EPS. On average, equities analysts forecast that Fluence Energy will post 0.55 earnings per share for the current year.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares in the last quarter. CWM LLC raised its position in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy in the third quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Fluence Energy in the fourth quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy in the third quarter worth $87,000. Hedge funds and other institutional investors 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.