Barclays Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $22.00

Fluence Energy (NASDAQ:FLNC) had its price target trimmed by Barclays from $28.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on FLNC. Bank of America decreased their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Guggenheim restated a “buy” rating and issued a $26.00 price objective on shares of Fluence Energy in a report on Friday, December 6th. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a research note on Friday, November 8th. Finally, Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and an average price target of $25.80.

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $14.19 on Wednesday. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $26.12. The firm has a market cap of $2.57 billion, a PE ratio of 109.15, a PEG ratio of 0.44 and a beta of 2.42. The company has a 50 day simple moving average of $17.11 and a two-hundred day simple moving average of $18.50.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion during 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 previous year, the firm posted $0.02 EPS. As a group, research analysts anticipate that Fluence Energy will post 0.55 earnings per share for the current year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

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

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.