Fluence Energy (NASDAQ:FLNC) Given New $10.00 Price Target at Susquehanna

Fluence Energy (NASDAQ:FLNC) had its target price lowered by Susquehanna from $23.00 to $10.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a positive rating on the stock.

A number of other research firms have also weighed in on FLNC. Piper Sandler dropped their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America lowered their price objective on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. UBS Group cut Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $28.00 to $8.00 in a research note on Wednesday. Barclays cut their price target on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citigroup dropped their target price on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Down 6.7 %

Fluence Energy stock opened at $6.53 on Wednesday. The company has a market capitalization of $1.18 billion, a PE ratio of 50.23, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a 12-month low of $6.35 and a 12-month high of $26.12. The firm’s fifty day moving average is $15.03 and its 200 day moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last released 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%. Sell-side analysts expect that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

A number of institutional investors have recently made changes to their positions in FLNC. Vanguard Group Inc. boosted its position in Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after buying an additional 110,256 shares during the period. Clearbridge Investments LLC raised its position in Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after purchasing an additional 296,325 shares during the last quarter. FMR LLC lifted its holdings in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares during the period. Geode Capital Management LLC boosted its holdings in Fluence Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock valued at $24,035,000 after acquiring an additional 5,216 shares in the last quarter. Finally, Erste Asset Management GmbH increased its position in Fluence Energy by 15.5% during the 4th quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock valued at $18,058,000 after purchasing an additional 148,857 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.