Fluence Energy (NASDAQ:FLNC) Price Target Cut to $13.00 by Analysts at The Goldman Sachs Group

Fluence Energy (NASDAQ:FLNC) had its target price decreased by equities research analysts at The Goldman Sachs Group from $26.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 86.92% from the company’s current price.

A number of other brokerages have also weighed in on FLNC. Morgan Stanley cut their target price on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday. Piper Sandler lowered their target price on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday. Canaccord Genuity Group reduced their price target on Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial boosted their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Susquehanna lowered their price target on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.93.

Fluence Energy Stock Performance

Fluence Energy stock traded down $0.05 during mid-day trading on Wednesday, reaching $6.96. The stock had a trading volume of 6,836,802 shares, compared to its average volume of 5,538,506. The stock’s 50-day simple moving average is $15.47 and its 200-day simple moving average is $18.22. Fluence Energy has a fifty-two week low of $6.35 and a fifty-two week high of $26.12. The firm has a market capitalization of $1.26 billion, a PE ratio of 52.78, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (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%. On average, research analysts forecast that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company 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. US Bancorp DE lifted its holdings in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the last quarter. CWM LLC lifted its stake in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Fluence Energy in the third quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $87,000. 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.