Morgan Stanley Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $8.00

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by Morgan Stanley from $20.00 to $8.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts have also recently commented on the stock. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $22.00 to $10.00 in a research note on Tuesday. Finally, Citigroup lowered their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Trading Up 4.0 %

Fluence Energy stock opened at $6.43 on Wednesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37. The company’s 50-day moving average price is $14.60 and its two-hundred day moving average price is $17.92. Fluence Energy has a 52 week low of $6.05 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its earnings results 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 net margin of 0.89% and a return on equity of 4.10%. Research analysts expect that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 30,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $6.53 per share, with a total value of $195,900.00. Following the completion of the transaction, the director now directly owns 105,861 shares of the company’s stock, valued at approximately $691,272.33. The trade was a 39.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Fluence Energy

Several large investors have recently added to or reduced their stakes in FLNC. The Manufacturers Life Insurance Company grew its position in Fluence Energy by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock worth $617,000 after acquiring an additional 2,389 shares in the last quarter. CWM LLC grew its position in 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 acquiring an additional 1,767 shares in the last quarter. Renaissance Capital LLC grew its position in Fluence Energy by 20.0% in the third quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock worth $1,480,000 after acquiring an additional 10,881 shares in the last quarter. Blue Trust Inc. grew its position in Fluence Energy by 45.3% in 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, International Assets Investment Management LLC grew its position in Fluence Energy by 2,170.9% in the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock worth $245,000 after acquiring an additional 10,312 shares in the last quarter. 53.16% of the stock is 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.