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

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by Truist Financial from $28.00 to $13.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the company. UBS Group lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $28.00 to $8.00 in a report on Wednesday. Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Susquehanna dropped their target price on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a report on Wednesday. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $6.43 on Wednesday. The business’s 50 day simple moving average is $14.60 and its two-hundred day simple moving average is $17.92. The firm has a market cap of $1.16 billion, a P/E ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52-week low of $6.05 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly 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 return on equity of 4.10% and a net margin of 0.89%. On average, equities analysts forecast that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls bought 30,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average cost of $6.53 per share, with a total value of $195,900.00. Following the completion of the transaction, the director now directly owns 105,861 shares of the company’s stock, valued at $691,272.33. This represents a 39.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Fluence Energy by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock valued at $617,000 after purchasing an additional 2,389 shares in the last quarter. CWM LLC grew its position in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares in the last quarter. Renaissance Capital LLC grew its position in shares of Fluence Energy by 20.0% in the third quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock valued at $1,480,000 after purchasing an additional 10,881 shares in the last quarter. Blue Trust Inc. grew its position in shares of Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after purchasing an additional 1,502 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Fluence Energy by 2,170.9% in the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after purchasing an additional 10,312 shares in the last quarter. 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.