Piper Sandler Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $10.00

Fluence Energy (NASDAQ:FLNC) had its price target reduced by equities research analysts at Piper Sandler from $20.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 46.11% from the company’s previous close.

Several other research analysts have also commented on FLNC. Canaccord Genuity Group cut their price objective on Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday. Roth Mkm cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $6.50 in a research note on Wednesday. Citigroup lowered their price objective 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. BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $22.00 to $10.00 in a research report on Tuesday. Finally, Wolfe Research downgraded Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.40.

Fluence Energy Price Performance

NASDAQ FLNC opened at $6.84 on Wednesday. The company’s 50 day simple moving average is $15.47 and its two-hundred day simple moving average is $18.22. Fluence Energy has a 1 year low of $6.56 and a 1 year high of $26.12. The stock has a market capitalization of $1.24 billion, a PE ratio of 51.52, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data 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 return on equity of 4.10% and a net margin of 0.89%. On average, research analysts anticipate that Fluence Energy will post 0.48 EPS for the current year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sanders Morris Harris LLC purchased a new position in Fluence Energy during the fourth quarter valued at $812,000. 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 purchasing an additional 21,597 shares during the last quarter. FMR LLC boosted its stake in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after purchasing an additional 132,868 shares in the last quarter. Cidel Asset Management Inc. purchased a new stake in Fluence Energy during the 4th quarter valued at about $350,000. Finally, Principal Financial Group Inc. bought a new stake in Fluence Energy during the 3rd quarter valued at about $5,742,000. 53.16% of the stock is currently owned by 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.