Fluence Energy (NASDAQ:FLNC) Downgraded to Neutral Rating by Roth Mkm

Fluence Energy (NASDAQ:FLNC) was downgraded by analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Briefing.com Automated Import reports. They presently have a $6.50 target price on the stock, down from their prior target price of $20.00. Roth Mkm’s price target would suggest a potential downside of 7.14% from the company’s previous close.

FLNC has been the subject of a number of other reports. Susquehanna raised their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada lowered their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, Canaccord Genuity Group decreased their price objective 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. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.50.

Fluence Energy Trading Down 46.4 %

Shares of NASDAQ:FLNC opened at $7.00 on Wednesday. The business has a 50-day moving average price of $15.47 and a 200 day moving average price of $18.22. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a 12-month low of $6.56 and a 12-month high of $26.12.

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%. As a group, equities research analysts predict that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after purchasing an additional 110,256 shares during the period. FMR LLC boosted its stake in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Fluence Energy by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after buying an additional 60,633 shares in the last quarter. Erste Asset Management GmbH boosted its stake in shares of Fluence Energy by 15.5% in the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock valued at $18,058,000 after buying an additional 148,857 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Fluence Energy in the third quarter valued at approximately $21,809,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.