Fluence Energy (NASDAQ:FLNC) Given New $13.00 Price Target at The Goldman Sachs Group

Fluence Energy (NASDAQ:FLNC) had its price target cut by The Goldman Sachs Group from $26.00 to $13.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

FLNC has been the topic of several other research reports. Susquehanna reduced their price objective on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a report on Wednesday. Bank of America cut their price target on Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $22.00 to $10.00 in a research note on Tuesday. Finally, Morgan Stanley lowered 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Down 6.7 %

Fluence Energy stock opened at $6.53 on Wednesday. The stock has a 50-day simple moving average of $15.03 and a 200 day simple moving average of $18.07. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 50.23, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 12-month low of $6.35 and a 12-month high of $26.12.

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

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the business’s 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 owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in FLNC. Duff & Phelps Investment Management Co. boosted its holdings in Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after purchasing an additional 1,432 shares during the last quarter. US Bancorp DE grew its holdings in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its position in shares of Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock valued at $352,000 after acquiring an additional 1,500 shares during the last quarter. Blue Trust Inc. raised its holdings in Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after acquiring an additional 1,502 shares in the last quarter. Finally, KBC Group NV boosted its position in Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares during the last quarter. 53.16% of the stock is currently 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.