Fluence Energy (NASDAQ:FLNC - Free Report) had its price objective lowered by Morgan Stanley from $20.00 to $8.00 in a report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.
A number of other brokerages have also commented on FLNC. Guggenheim lowered Fluence Energy from a "buy" rating to a "sell" rating and dropped their price target for the stock from $26.00 to $6.00 in a research note on Tuesday. UBS Group lowered 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. Roth Mkm lowered Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $20.00 to $6.50 in a research report on Wednesday. Wolfe Research downgraded Fluence Energy from an "outperform" rating to a "peer perform" rating in a report on Wednesday. Finally, Truist Financial raised their price target on Fluence Energy from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy has an average rating of "Hold" and an average price target of $14.64.
Read Our Latest Stock Analysis on FLNC
Fluence Energy Stock Up 4.0 %
Shares of Fluence Energy stock traded up $0.25 on Wednesday, hitting $6.43. The stock had a trading volume of 10,984,558 shares, compared to its average volume of 3,520,224. The stock's 50-day simple moving average is $14.60 and its two-hundred day simple moving average is $17.92. Fluence Energy has a one year low of $6.05 and a one year high of $26.12. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. As a group, equities analysts predict that Fluence Energy will post 0.48 EPS for the current fiscal year.
Insider Transactions at Fluence Energy
In other news, Director Herman E. Bulls acquired 10,000 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares of the company's stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.65% of the company's stock.
Hedge Funds Weigh In On Fluence Energy
Several large investors have recently modified their holdings of FLNC. Erste Asset Management GmbH bought a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $22,059,000. Point72 Asset Management L.P. bought a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $21,809,000. Webs Creek Capital Management LP bought a new position in shares of Fluence Energy during the 4th quarter valued at approximately $15,118,000. Covalis Capital LLP bought a new position in shares of Fluence Energy during the 4th quarter valued at approximately $12,113,000. Finally, Trexquant Investment LP increased its position in shares of Fluence Energy by 577.5% during the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock valued at $13,918,000 after purchasing an additional 747,103 shares during the last quarter. Institutional investors own 53.16% of the company's stock.
About Fluence Energy
(
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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.
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