Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $20.00 at Bank of America

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by Bank of America from $25.00 to $20.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the company. Piper Sandler raised their target price on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Truist Financial lifted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Finally, Robert W. Baird reissued a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Fluence Energy Stock Down 7.6 %

Shares of NASDAQ:FLNC opened at $12.65 on Tuesday. Fluence Energy has a twelve month low of $12.43 and a twelve month high of $26.12. The stock’s 50 day moving average is $16.82 and its 200-day moving average is $18.44. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 97.31, a PEG ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same period last year, the firm earned $0.02 earnings per share. Equities research analysts anticipate that Fluence Energy will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls acquired 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 acquisition, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE increased its holdings in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the period. CWM LLC increased its holdings in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy in the third quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Fluence Energy during the fourth quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Fluence Energy during the third quarter worth about $87,000. 53.16% of the stock is owned by hedge funds and other 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.