Fluence Energy (NASDAQ:FLNC) Downgraded to Neutral Rating by Bank of America

Bank of America lowered shares of Fluence Energy (NASDAQ:FLNC - Free Report) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat reports. The firm currently has $8.00 price objective on the stock, down from their previous price objective of $20.00.

Other research analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Fluence Energy from a "buy" rating to a "hold" rating and decreased their price target for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Roth Mkm downgraded Fluence Energy from a "buy" rating to a "neutral" rating and decreased their target price for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. Canaccord Genuity Group dropped their price target on Fluence Energy from $34.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada lowered Fluence Energy from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $25.00 to $7.00 in a research report on Wednesday, February 12th. Finally, Truist Financial lowered their price objective on Fluence Energy from $28.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $14.64.

Fluence Energy Trading Up 4.0 %

NASDAQ FLNC traded up $0.25 on Thursday, hitting $6.43. 10,984,558 shares of the stock traded hands, compared to its average volume of 3,520,224. The stock has a 50-day moving average of $14.60 and a 200 day moving average of $17.95. Fluence Energy has a twelve month low of $6.05 and a twelve month high of $26.12. The company has a market capitalization of $1.16 billion, a P/E ratio of 49.46, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results 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 net margin of 0.89% and a return on equity of 4.10%. As a group, equities research analysts expect that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company's stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLNC. US Bancorp DE increased its position 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 worth $38,000 after acquiring an additional 1,475 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Fluence Energy during the 4th quarter worth approximately $34,000. CWM LLC raised its stake in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company's stock valued at $65,000 after purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy in the third quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy in the third quarter worth $87,000. 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.