Canaccord Genuity Group Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $14.00

Fluence Energy (NASDAQ:FLNC - Free Report) had its price target cut by Canaccord Genuity Group from $34.00 to $14.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

FLNC has been the topic of several other research reports. Piper Sandler upped their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, November 27th. Susquehanna lifted their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a "positive" rating in a research report on Wednesday, October 16th. Baird R W downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Roth Mkm lowered Fluence Energy from a "buy" rating to a "neutral" rating and reduced their price target for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Finally, BNP Paribas upgraded Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price objective on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Fluence Energy currently has an average rating of "Hold" and a consensus target price of $14.64.

Fluence Energy Stock Up 4.0 %

Shares of Fluence Energy stock traded up $0.25 during midday trading on Wednesday, hitting $6.43. The company's stock had a trading volume of 10,984,558 shares, compared to its average volume of 3,520,224. Fluence Energy has a 1-year low of $6.05 and a 1-year high of $26.12. The firm has a market capitalization of $1.16 billion, a P/E ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37. The stock has a 50-day simple moving average of $14.60 and a 200-day simple moving average of $17.95.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts predict 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 30,000 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $6.53 per share, with a total value of $195,900.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Fluence Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in Fluence Energy in the 4th quarter worth $34,000. US Bancorp DE lifted its stake in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $38,000 after buying an additional 1,475 shares during the period. CWM LLC grew its position in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Fluence Energy during the third quarter worth about $74,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy during the fourth quarter valued at about $79,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Company Profile

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.