Fluence Energy (NASDAQ:FLNC) Given New $5.00 Price Target at Robert W. Baird

Fluence Energy (NASDAQ:FLNC - Free Report) had its price target decreased by Robert W. Baird from $9.00 to $5.00 in a report released on Tuesday, Marketbeat.com reports. Robert W. Baird currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets cut shares of Fluence Energy from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. downgraded Fluence Energy from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $14.00 to $7.00 in a research note on Friday, April 11th. Citigroup decreased their target price on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Roth Mkm cut Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $20.00 to $6.50 in a report on Wednesday, February 12th. Finally, Bank of America cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and cut their target price for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.43.

Fluence Energy Stock Performance

Shares of FLNC traded up $0.05 during mid-day trading on Tuesday, hitting $3.69. 3,708,518 shares of the company's stock were exchanged, compared to its average volume of 3,367,097. The firm has a market capitalization of $669.92 million, a P/E ratio of -73.80 and a beta of 2.48. Fluence Energy has a fifty-two week low of $3.49 and a fifty-two week high of $26.12. The business's 50 day moving average is $5.23 and its two-hundred day moving average is $13.46. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results 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 negative net margin of 0.08% and a negative return on equity of 0.36%. On average, equities analysts expect that Fluence Energy will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In other news, CFO Ahmed Pasha acquired 15,500 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the transaction, the chief financial officer now directly owns 24,703 shares of the company's stock, valued at $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Herman E. Bulls bought 30,000 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the transaction, the director now owns 105,861 shares of the company's stock, valued at approximately $691,272.33. This represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 79,000 shares of company stock worth $499,665. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. increased its position in shares of Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock worth $432,000 after acquiring an additional 1,432 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its stake in Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock valued at $352,000 after acquiring an additional 1,500 shares during the period. KBC Group NV increased its position in Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company's stock worth $1,720,000 after buying an additional 1,671 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Fluence Energy by 0.4% in the 4th quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock worth $6,988,000 after acquiring an additional 1,734 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Fluence Energy by 1.4% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company's stock valued at $2,014,000 after buying an additional 1,800 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

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.