Fluence Energy (NASDAQ:FLNC) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group lowered shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has $15.00 target price on the stock, down from their prior target price of $22.00.

FLNC has been the topic of several other reports. Canaccord Genuity Group cut their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a research report on Friday, November 8th. Piper Sandler raised their price target on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Susquehanna upped their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Finally, Bank of America decreased their target price on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.80.

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $14.19 on Wednesday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 109.15, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42. The stock’s 50-day moving average is $17.11 and its 200-day moving average is $18.50. Fluence Energy has a one year low of $12.74 and a one year high of $26.12.

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

Insider Activity

In related news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

Institutional Trading of Fluence Energy

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

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.