Fluence Energy (NASDAQ:FLNC) Shares Down 5.9% Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) shares were down 5.9% on Wednesday after Barclays lowered their price target on the stock from $28.00 to $22.00. Barclays currently has an overweight rating on the stock. Fluence Energy traded as low as $13.43 and last traded at $13.56. Approximately 807,568 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 3,212,205 shares. The stock had previously closed at $14.41.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. BMO Capital Markets raised their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America decreased their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Guggenheim reissued a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a research report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.80.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE grew its stake in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the last quarter. CWM LLC grew its holdings in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Fluence Energy in the 3rd quarter valued at about $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy during the 3rd quarter worth approximately $87,000. Finally, Blue Trust Inc. grew its holdings in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares in the last quarter. 53.16% of the stock is owned by institutional investors.

Fluence Energy Trading Down 6.3 %

The stock has a market cap of $2.44 billion, a P/E ratio of 103.84, a PEG ratio of 0.47 and a beta of 2.42. The firm has a 50-day simple moving average of $17.62 and a two-hundred day simple moving average of $18.60.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business posted $0.02 EPS. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. Sell-side analysts predict that Fluence Energy, Inc. will post 0.55 earnings per share for the current year.

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.