The Goldman Sachs Group Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its target price cut by equities research analysts at The Goldman Sachs Group from $26.00 to $13.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 86.92% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group decreased their price target on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Morgan Stanley lowered their target price on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wolfe Research cut shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Finally, BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $22.00 to $10.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.93.

Fluence Energy Price Performance

Shares of FLNC traded down $0.05 during mid-day trading on Wednesday, reaching $6.96. The stock had a trading volume of 6,836,802 shares, compared to its average volume of 5,538,506. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 52.78, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52-week low of $6.35 and a 52-week high of $26.12. The business’s fifty day moving average is $15.47 and its 200 day moving average is $18.22.

Fluence Energy (NASDAQ:FLNC) last released its earnings results 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 net margin of 0.89% and a return on equity of 4.10%. As a group, sell-side analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price 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 approximately $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

A number of institutional investors have recently bought and sold shares of FLNC. US Bancorp DE raised its holdings in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the period. CWM LLC increased its position in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Fluence Energy during the third quarter worth approximately $74,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy in the third quarter worth $87,000. Institutional investors and hedge funds 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.