Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Rating of “Hold” from Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned a consensus rating of “Hold” from the twenty-four analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.64.

A number of equities research analysts recently issued reports on FLNC shares. Bank of America downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. UBS Group cut Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $8.00 in a report on Wednesday, February 12th. Piper Sandler cut their price objective on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group cut 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, February 12th.

Fluence Energy Trading Up 7.4 %

Shares of FLNC opened at $7.36 on Friday. The business’s 50-day moving average price is $13.78 and its 200-day moving average price is $17.68. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. Fluence Energy has a twelve month low of $6.05 and a twelve month high of $26.12. The stock has a market cap of $1.34 billion, a PE ratio of -147.20 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. On average, equities analysts forecast that Fluence Energy will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ahmed Pasha acquired 15,500 shares of the stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $6.48 per share, with a total value of $100,440.00. Following the completion of the purchase, the chief financial officer now owns 24,703 shares of the company’s stock, valued at approximately $160,075.44. The trade was a 168.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 79,000 shares of company stock valued at $601,265 in the last ninety days. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sanders Morris Harris LLC bought a new position in shares of Fluence Energy during the fourth quarter valued at approximately $812,000. Cidel Asset Management Inc. purchased a new position in Fluence Energy during the 4th quarter valued at $350,000. SG Americas Securities LLC raised 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 purchasing an additional 21,597 shares in the last quarter. FMR LLC raised its stake in Fluence Energy by 9.0% in the third 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 third quarter valued at approximately $5,742,000. 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.