Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $9.00 at Barclays

Fluence Energy (NASDAQ:FLNC) had its price target lowered by investment analysts at Barclays from $22.00 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 28.57% from the company’s current price.

Several other brokerages also recently weighed in on FLNC. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $22.00 to $10.00 in a research note on Tuesday. Bank of America dropped their target price on Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research note on Friday, November 8th. Citigroup dropped their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, UBS Group downgraded Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $28.00 to $8.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.88.

Fluence Energy Stock Down 46.4 %

Shares of NASDAQ FLNC opened at $7.00 on Wednesday. Fluence Energy has a twelve month low of $6.56 and a twelve month high of $26.12. The business has a fifty day simple moving average of $15.47 and a two-hundred day simple moving average of $18.22. The firm has a market cap of $1.27 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Fluence Energy will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently made changes to their positions in FLNC. Erste Asset Management GmbH purchased a new stake in shares of Fluence Energy in the third quarter valued at approximately $22,059,000. Point72 Asset Management L.P. purchased a new stake in shares of Fluence Energy in the third quarter valued at approximately $21,809,000. Principal Financial Group Inc. purchased a new position in Fluence Energy in the third quarter worth approximately $5,742,000. Zimmer Partners LP purchased a new position in Fluence Energy in the third quarter worth approximately $5,678,000. Finally, JPMorgan Chase & Co. grew its position in Fluence Energy by 73.7% in the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock worth $12,177,000 after acquiring an additional 227,549 shares during the period. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.