Susquehanna Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $8.00

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price reduced by research analysts at Susquehanna from $10.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's price objective suggests a potential upside of 116.80% from the stock's previous close.

FLNC has been the topic of a number of other reports. Morgan Stanley dropped their price objective on shares of Fluence Energy from $20.00 to $8.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 12th. Roth Mkm cut Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Royal Bank of Canada lowered Fluence Energy from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from $25.00 to $7.00 in a report on Wednesday, February 12th. Bank of America cut Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $20.00 to $8.00 in a research note on Thursday, February 13th. Finally, Guggenheim downgraded shares of Fluence Energy from a "buy" rating to a "sell" rating and lowered their target price for the stock from $26.00 to $6.00 in a report on Tuesday, February 11th. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $11.43.

Fluence Energy Trading Up 1.4 %

Fluence Energy stock traded up $0.05 during mid-day trading on Monday, hitting $3.69. 3,708,518 shares of the company's stock were exchanged, compared to its average volume of 3,358,822. The company's 50 day simple moving average is $5.23 and its 200-day simple moving average is $13.51. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. 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.

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

Insiders Place Their Bets

In other news, CFO Ahmed Pasha acquired 15,500 shares of Fluence Energy stock in a transaction that occurred 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 purchase, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the purchase, the director now directly owns 115,861 shares in the company, valued at approximately $626,808.01. This represents a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 79,000 shares of company stock valued at $499,665. Corporate insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Sanders Morris Harris LLC purchased a new position in Fluence Energy during the 4th quarter valued at $812,000. Cidel Asset Management Inc. bought a new stake in Fluence Energy during the 4th quarter valued at approximately $350,000. SG Americas Securities LLC raised its position in shares of Fluence Energy by 79.2% in the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock worth $776,000 after acquiring an additional 21,597 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Fluence Energy during the fourth quarter valued at approximately $1,429,000. Finally, Principal Financial Group Inc. bought a new position in Fluence Energy in the third quarter worth $5,742,000. 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.