Fluence Energy (NASDAQ:FLNC - Free Report) had its target price lowered by The Goldman Sachs Group from $26.00 to $13.00 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.
Several other research analysts also recently weighed in on FLNC. BMO Capital Markets downgraded Fluence Energy from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. Barclays dropped their target price on shares of Fluence Energy from $22.00 to $9.00 and set an "overweight" rating for the company in a report on Wednesday. Roth Mkm cut Fluence Energy from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $20.00 to $6.50 in a report on Wednesday. Bank of America lowered their target price on Fluence Energy from $25.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, UBS Group cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and cut their target price for the stock from $28.00 to $8.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.64.
Check Out Our Latest Stock Report on Fluence Energy
Fluence Energy Stock Up 4.0 %
Shares of FLNC stock traded up $0.25 during mid-day trading on Wednesday, hitting $6.43. 10,984,558 shares of the stock were exchanged, compared to its average volume of 3,520,224. The company has a market cap of $1.16 billion, a PE ratio of 49.46, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The firm has a fifty day moving average of $14.60 and a 200 day moving average of $17.93. Fluence Energy has a 52-week low of $6.05 and a 52-week high of $26.12.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Equities analysts predict that Fluence Energy will post 0.48 EPS for the current year.
Insider Activity
In related news, Director Herman E. Bulls purchased 30,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the acquisition, the director now owns 105,861 shares of the company's stock, valued at $691,272.33. The trade was a 39.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its holdings in Fluence Energy by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company's stock valued at $617,000 after purchasing an additional 2,389 shares in the last quarter. CWM LLC lifted 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 in the last quarter. Renaissance Capital LLC increased its stake in Fluence Energy by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 65,169 shares of the company's stock worth $1,480,000 after buying an additional 10,881 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company's stock valued at $109,000 after acquiring an additional 1,502 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Fluence Energy by 2,170.9% in the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company's stock worth $245,000 after acquiring an additional 10,312 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.
Fluence Energy Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider Fluence Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fluence Energy wasn't on the list.
While Fluence Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
