Bank of America Downgrades Fluence Energy (NASDAQ:FLNC) to Neutral

Fluence Energy (NASDAQ:FLNC) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $8.00 price target on the stock, down from their previous price target of $20.00. Bank of America‘s target price indicates a potential upside of 24.42% from the company’s current price.

Several other analysts also recently commented on FLNC. Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Canaccord Genuity Group reduced 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 report on Wednesday. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Morgan Stanley reduced their price target on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $22.00 to $10.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Up 4.0 %

Shares of FLNC stock opened at $6.43 on Thursday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 49.46, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52 week low of $6.05 and a 52 week high of $26.12. The firm has a 50 day moving average of $14.60 and a 200-day moving average of $17.92.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Analysts anticipate that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 30,000 shares of Fluence Energy stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the acquisition, the director now owns 105,861 shares of the company’s stock, valued at $691,272.33. This represents a 39.55 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently bought and sold shares of the business. Sanders Morris Harris LLC bought a new stake in Fluence Energy in the 4th quarter worth about $812,000. Cidel Asset Management Inc. bought a new stake in Fluence Energy in the 4th quarter worth about $350,000. SG Americas Securities LLC increased its holdings in Fluence Energy by 79.2% in the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after buying an additional 21,597 shares in the last quarter. FMR LLC increased its holdings in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Fluence Energy during the 3rd quarter valued at about $5,742,000. 53.16% of the stock is currently owned by institutional investors.

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.