Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $14.00 at Canaccord Genuity Group

Fluence Energy (NASDAQ:FLNC) had its target price reduced by Canaccord Genuity Group from $34.00 to $14.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Roth Mkm lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $6.50 in a research note on Wednesday. Piper Sandler boosted their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Barclays decreased their price target on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday. Robert W. Baird reiterated a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Finally, Bank of America cut their target price on Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Fluence Energy has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Down 6.7 %

Shares of FLNC opened at $6.53 on Wednesday. The company has a 50 day moving average of $15.03 and a two-hundred day moving average of $18.07. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 50.23, 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.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share 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%. On average, sell-side analysts expect that Fluence Energy will post 0.48 EPS for the current year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Erste Asset Management GmbH acquired a new position in shares of Fluence Energy during the third quarter valued at approximately $22,059,000. Point72 Asset Management L.P. acquired a new stake in shares of Fluence Energy in the third quarter valued at about $21,809,000. Trexquant Investment LP lifted its stake in shares of Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock worth $13,918,000 after buying an additional 747,103 shares in the last quarter. Clearbridge Investments LLC boosted its position in Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after acquiring an additional 296,325 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Fluence Energy during the 4th quarter valued at about $4,288,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.