Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Fluence Energy (NASDAQ:FLNC - Free Report) from an overweight rating to a neutral rating in a research report report published on Friday, Marketbeat.com reports. The brokerage currently has $7.00 price objective on the stock, down from their prior price objective of $14.00.

Several other research firms have also recently weighed in on FLNC. UBS Group cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $28.00 to $8.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group dropped their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Roth Mkm lowered Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $20.00 to $6.50 in a research report on Wednesday, February 12th. The Goldman Sachs Group cut their price target on Fluence Energy from $26.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada lowered Fluence Energy from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Fluence Energy has a consensus rating of "Hold" and an average price target of $11.43.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC traded down $0.07 on Friday, hitting $3.61. The stock had a trading volume of 2,461,810 shares, compared to its average volume of 3,329,229. The company has a market capitalization of $655.39 million, a price-to-earnings ratio of -72.20 and a beta of 2.48. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The firm's 50 day moving average price is $5.66 and its 200-day moving average price is $13.84. Fluence Energy has a twelve month low of $3.56 and a twelve month high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results 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 negative net margin of 0.08% and a negative return on equity of 0.36%. On average, equities research analysts predict that Fluence Energy will post 0.08 earnings per share for the current year.

Insider Activity

In related news, Director Herman E. Bulls purchased 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, the director now owns 115,861 shares of the company's stock, valued at approximately $626,808.01. This trade represents a 9.45 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Julian Nebreda acquired 23,500 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $6.35 per share, with a total value of $149,225.00. Following the transaction, the chief executive officer now directly owns 120,455 shares of the company's stock, valued at $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 79,000 shares of company stock valued at $499,665 over the last ninety days. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Duff & Phelps Investment Management Co. boosted its stake in Fluence Energy by 5.6% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock valued at $432,000 after buying an additional 1,432 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its holdings in shares of Fluence Energy by 7.3% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock worth $352,000 after buying an additional 1,500 shares in the last quarter. KBC Group NV lifted its stake in shares of Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company's stock valued at $1,720,000 after acquiring an additional 1,671 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Fluence Energy by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock valued at $6,988,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Swiss National Bank grew its position in Fluence Energy by 1.4% during the 4th quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after acquiring an additional 1,800 shares during the last quarter. 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.