Fluence Energy (NASDAQ:FLNC) Downgraded to Neutral at Citigroup

Citigroup downgraded shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat.com reports. The firm currently has $24.00 price target on the stock, down from their previous price target of $32.00.

A number of other equities research analysts also recently commented on FLNC. Susquehanna dropped their price objective on shares of Fluence Energy from $24.00 to $23.00 and set a positive rating on the stock in a research report on Friday, August 9th. Barclays dropped their target price on Fluence Energy from $30.00 to $28.00 and set an overweight rating on the stock in a report on Friday, July 26th. Jefferies Financial Group assumed coverage on Fluence Energy in a report on Wednesday, September 4th. They set a buy rating and a $26.00 price target for the company. Royal Bank of Canada upgraded Fluence Energy to a moderate buy rating in a report on Friday, August 9th. Finally, Guggenheim raised Fluence Energy from a neutral rating to a buy rating and set a $26.00 target price on the stock in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $26.21.

Fluence Energy Stock Performance

FLNC stock opened at $21.99 on Tuesday. The company’s 50 day moving average price is $18.89 and its 200 day moving average price is $18.58. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of -56.38, a PEG ratio of 7.24 and a beta of 2.54. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $27.80.

Insider Activity

In related news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the acquisition, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Fluence Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $38,000. PARK CIRCLE Co acquired a new position in Fluence Energy during the 2nd quarter worth approximately $28,000. Pflug Koory LLC purchased a new position in shares of Fluence Energy during the 1st quarter worth approximately $35,000. Baillie Gifford & Co. acquired a new stake in shares of Fluence Energy in the 1st quarter valued at approximately $38,000. Finally, GAMMA Investing LLC boosted its stake in shares of Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after buying an additional 2,146 shares in the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

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.