Fluence Energy (NASDAQ:FLNC) Stock Price Down 5.4% on Analyst Downgrade

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) traded down 5.4% during mid-day trading on Tuesday after Bank of America lowered their price target on the stock from $25.00 to $20.00. Bank of America currently has a buy rating on the stock. Fluence Energy traded as low as $13.15 and last traded at $12.96. 753,541 shares traded hands during trading, a decline of 77% from the average session volume of 3,317,409 shares. The stock had previously closed at $13.69.

Several other research analysts have also recently weighed in on the stock. Susquehanna upped their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Piper Sandler boosted their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, Canaccord Genuity Group dropped their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.60.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE grew its position in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares in the last quarter. CWM LLC boosted its holdings in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy in the 3rd quarter worth approximately $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Fluence Energy during the 4th quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Fluence Energy in the third quarter worth $87,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Down 7.6 %

The company has a market capitalization of $2.29 billion, a PE ratio of 97.31, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42. The firm’s 50 day simple moving average is $16.99 and its 200 day simple moving average is $18.48.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm’s revenue was up 82.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. As a group, sell-side analysts predict that Fluence Energy, Inc. will post 0.55 EPS for the current fiscal year.

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.