Fluence Energy (NASDAQ:FLNC) Trading Down 5.9% Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price dropped 5.9% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $28.00 to $22.00. Barclays currently has an overweight rating on the stock. Fluence Energy traded as low as $13.43 and last traded at $13.56. Approximately 807,568 shares were traded during trading, a decline of 75% from the average daily volume of 3,212,205 shares. The stock had previously closed at $14.41.

FLNC has been the subject of several other reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Bank of America decreased their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Truist Financial lifted their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $15.00 in a research note on Wednesday. Finally, BMO Capital Markets upped their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.80.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

A number of institutional investors have recently modified their holdings of the company. US Bancorp DE grew its stake in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares in the last quarter. CWM LLC increased its stake 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 buying an additional 1,767 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Fluence Energy in the third quarter valued at $74,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy during the 4th quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fluence Energy during the 3rd quarter worth $87,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Down 6.3 %

The company has a market cap of $2.44 billion, a P/E ratio of 103.84, a P/E/G ratio of 0.47 and a beta of 2.42. The company’s 50-day moving average price is $17.62 and its two-hundred day moving average price is $18.60.

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

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.