Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $14.00 at Canaccord Genuity Group

Fluence Energy (NASDAQ:FLNC) had its price objective reduced by Canaccord Genuity Group from $34.00 to $14.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $25.00 to $7.00 in a research report on Wednesday. Roth Mkm lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $6.50 in a report on Wednesday. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Bank of America dropped their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fluence Energy presently has a consensus rating of “Hold” and an average target price of $14.64.

Fluence Energy Trading Down 6.7 %

Fluence Energy stock opened at $6.53 on Wednesday. The stock has a market cap of $1.18 billion, a P/E ratio of 50.23, a PEG ratio of 0.49 and a beta of 2.37. The company has a 50-day moving average price of $15.03 and a 200 day moving average price of $18.07. Fluence Energy has a 12-month low of $6.35 and a 12-month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 forecast that Fluence Energy will post 0.48 EPS for the current year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Erste Asset Management GmbH purchased a new stake in shares of Fluence Energy during the 3rd quarter worth $22,059,000. Point72 Asset Management L.P. acquired a new position in shares of Fluence Energy during the 3rd quarter worth about $21,809,000. Trexquant Investment LP increased its holdings in shares of Fluence Energy by 577.5% in the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after acquiring an additional 747,103 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after acquiring an additional 296,325 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Fluence Energy during the fourth quarter worth approximately $4,288,000. 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.