Fluence Energy (NASDAQ:FLNC) Rating Lowered to “Neutral” at Bank of America

Fluence Energy (NASDAQ:FLNC) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. They currently have a $8.00 price target on the stock, down from their previous price target of $20.00. Bank of America‘s price target would indicate a potential upside of 24.42% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Truist Financial lowered their price objective on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup lowered their price objective on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Finally, Piper Sandler lowered their price target on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned 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 Up 4.0 %

Fluence Energy stock opened at $6.43 on Thursday. The business has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $17.92. The company has a market cap of $1.16 billion, a P/E ratio of 49.46, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52-week low of $6.05 and a 52-week 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 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%. Research analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently modified their holdings of the stock. US Bancorp DE increased its position in shares of 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 during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Fluence Energy during the 4th quarter valued at approximately $34,000. CWM LLC increased its position in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing 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 valued at approximately $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $87,000. Institutional investors own 53.16% of the company’s stock.

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.