Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $13.00 at Truist Financial

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by stock analysts at Truist Financial from $28.00 to $13.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 88.27% from the stock’s previous close.

A number of other analysts also recently commented on FLNC. Susquehanna dropped their price target on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a research report on Wednesday. BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $22.00 to $10.00 in a research report on Tuesday. Canaccord Genuity Group dropped their target price on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $25.00 to $7.00 in a research report on Wednesday. Finally, BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research report on Friday, November 8th. One 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, Fluence Energy has an average rating of “Hold” and an average price target of $15.21.

Fluence Energy Trading Down 1.4 %

FLNC stock traded down $0.10 during mid-day trading on Wednesday, hitting $6.91. 8,323,150 shares of the company were exchanged, compared to its average volume of 5,598,420. The company has a market capitalization of $1.25 billion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. Fluence Energy has a twelve month low of $6.35 and a twelve month high of $26.12. The firm has a fifty day simple moving average of $15.47 and a 200 day simple moving average of $18.22.

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

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. The Manufacturers Life Insurance Company grew its stake in Fluence Energy by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock worth $617,000 after buying an additional 2,389 shares in the last quarter. CWM LLC boosted its holdings in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the last quarter. Renaissance Capital LLC raised its stake in shares of Fluence Energy by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock worth $1,480,000 after purchasing an additional 10,881 shares during the period. Blue Trust Inc. raised its stake in Fluence Energy by 45.3% in the 3rd 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 increased its position in shares of Fluence Energy by 2,170.9% during the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after buying an additional 10,312 shares during the period. 53.16% of the stock is 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.