Barclays Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its target price reduced by Barclays from $22.00 to $9.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently issued reports on FLNC. Canaccord Genuity Group dropped their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $25.00 to $7.00 in a report on Wednesday. Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Piper Sandler lifted their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Finally, Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.21.

Fluence Energy Stock Down 6.7 %

Shares of FLNC stock opened at $6.53 on Wednesday. The company has a 50 day moving average price of $15.03 and a 200-day moving average price of $18.07. Fluence Energy has a 52 week low of $6.35 and a 52 week high of $26.12. The firm has a market capitalization of $1.18 billion, a PE ratio of 50.23, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last posted 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%. Analysts anticipate that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity

In other news, Director Herman E. Bulls acquired 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 purchase, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Fluence Energy by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock worth $617,000 after acquiring an additional 2,389 shares during the last quarter. CWM LLC increased its stake in shares of Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares during the period. Renaissance Capital LLC boosted its holdings in Fluence Energy by 20.0% in the third quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock valued at $1,480,000 after purchasing an additional 10,881 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after acquiring an additional 1,502 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Fluence Energy by 2,170.9% in the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after acquiring an additional 10,312 shares during the period. Hedge funds and other institutional investors 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.