Fluence Energy (NASDAQ:FLNC) Downgraded to “Hold” Rating by Jefferies Financial Group

Jefferies Financial Group cut 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 reports. Jefferies Financial Group currently has $15.00 target price on the stock, down from their prior target price of $22.00.

A number of other equities analysts also recently issued reports on the company. Susquehanna raised their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Canaccord Genuity Group dropped 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. BMO Capital Markets increased their price objective 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. Guggenheim restated a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. Finally, Piper Sandler increased their price target on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.80.

Fluence Energy Price Performance

Fluence Energy stock opened at $14.19 on Wednesday. The business has a 50 day moving average of $17.11 and a 200-day moving average of $18.50. The company has a market capitalization of $2.57 billion, a P/E ratio of 109.15, a P/E/G ratio of 0.44 and a beta of 2.42. Fluence Energy has a 1 year low of $12.74 and a 1 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 (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. Equities analysts anticipate that Fluence Energy will post 0.55 EPS for the current year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently bought and sold shares of the stock. US Bancorp DE raised its holdings in shares of Fluence Energy by 676.6% in the third 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 during the last quarter. CWM LLC increased its stake in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Fluence Energy during the 3rd quarter worth approximately $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Fluence Energy in the 4th quarter worth approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy during the third quarter valued at approximately $87,000. 53.16% of the stock is currently 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.