Truist Financial Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $13.00

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price cut by investment analysts at Truist Financial from $28.00 to $13.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 102.18% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. Guggenheim lowered 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 note on Tuesday, February 11th. Baird R W downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. 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 note on Tuesday, February 11th. Bank of America cut their target price 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. Finally, The Goldman Sachs Group dropped their price target on shares of Fluence Energy from $26.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of "Hold" and a consensus price target of $14.64.

Fluence Energy Trading Up 4.0 %

NASDAQ FLNC traded up $0.25 on Wednesday, hitting $6.43. 10,984,558 shares of the company were exchanged, compared to its average volume of 3,520,224. The stock has a fifty day moving average of $14.60 and a 200-day moving average of $17.93. The company has a market cap of $1.16 billion, a PE ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a 12 month low of $6.05 and a 12 month high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. On average, analysts expect that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently added to or reduced their stakes in the stock. Erste Asset Management GmbH purchased a new position in Fluence Energy during the 3rd quarter worth $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy in the third quarter valued at about $21,809,000. Webs Creek Capital Management LP purchased a new stake in Fluence Energy in the fourth quarter worth about $15,118,000. Covalis Capital LLP bought a new position in Fluence Energy during the 4th quarter worth about $12,113,000. Finally, Trexquant Investment LP increased its position in 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 period. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.