Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $10.00 at Citigroup

Fluence Energy (NASDAQ:FLNC) had its price target trimmed by Citigroup from $24.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Bank of America decreased their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $22.00 to $10.00 in a research note on Tuesday. Finally, Canaccord Genuity Group decreased their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.15.

Fluence Energy Stock Performance

Shares of Fluence Energy stock opened at $7.00 on Tuesday. The company has a market capitalization of $1.27 billion, a P/E ratio of 53.85, a P/E/G ratio of 0.49 and a beta of 2.37. The company has a fifty day moving average of $15.47 and a 200 day moving average of $18.22. Fluence Energy has a fifty-two week low of $6.56 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Analysts forecast that Fluence Energy will post 0.48 EPS for the current year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently added to or reduced their stakes in FLNC. US Bancorp DE grew its stake in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares in the last quarter. CWM LLC boosted 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 valued at $65,000 after purchasing an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Fluence Energy during the third quarter valued at approximately $74,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy during the fourth quarter valued at approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fluence Energy during the third quarter valued at approximately $87,000. 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.