Citigroup Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $10.00

Fluence Energy (NASDAQ:FLNC) had its price target trimmed by Citigroup from $24.00 to $10.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Bank of America decreased their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Piper Sandler increased their price target on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Truist Financial upped their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Guggenheim downgraded shares of Fluence Energy from a “buy” rating to a “sell” rating and decreased their price target for the stock from $26.00 to $6.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $6.18 on Tuesday. The business’s 50-day simple moving average is $15.03 and its 200 day simple moving average is $18.07. The company has a market cap of $1.12 billion, a P/E ratio of 47.54, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a one year low of $6.05 and a one year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted 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%. Analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity

In other news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several hedge funds have recently bought and sold shares of the company. Sanders Morris Harris LLC acquired a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $812,000. Cidel Asset Management Inc. bought a new position in Fluence Energy in the 4th quarter worth approximately $350,000. SG Americas Securities LLC increased its position in Fluence Energy by 79.2% in the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after acquiring an additional 21,597 shares during the period. FMR LLC raised its stake in Fluence Energy by 9.0% during 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. Finally, Principal Financial Group Inc. acquired a new position in Fluence Energy during the 3rd quarter worth $5,742,000. 53.16% of the stock is currently owned by institutional investors.

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.