The Goldman Sachs Group Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $13.00

Fluence Energy (NASDAQ:FLNC) had its price target reduced by The Goldman Sachs Group from $26.00 to $13.00 in a report released on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on FLNC. Jefferies Financial Group cut 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. Piper Sandler reduced their target price on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday. Susquehanna lowered their price target on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a report on Wednesday. UBS Group cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $28.00 to $8.00 in a report on Wednesday. Finally, BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $22.00 to $10.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $6.53 on Wednesday. Fluence Energy has a 52-week low of $6.35 and a 52-week high of $26.12. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 0.49 and a beta of 2.37. The firm’s 50-day moving average is $15.03 and its 200-day moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Sell-side analysts predict that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in FLNC. Sanders Morris Harris LLC bought a new stake in Fluence Energy in the fourth quarter worth approximately $812,000. SG Americas Securities LLC grew its position in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after buying an additional 21,597 shares during the period. FMR LLC increased its stake in shares of Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Cidel Asset Management Inc. acquired a new position in shares of Fluence Energy during the 4th quarter valued at $350,000. Finally, Principal Financial Group Inc. bought a new position in Fluence Energy during the third quarter worth $5,742,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.