Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by Jefferies Financial Group

Fluence Energy (NASDAQ:FLNC) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $15.00 target price on the stock, down from their previous target price of $22.00. Jefferies Financial Group’s target price suggests a potential upside of 9.09% from the stock’s current price.

Several other research analysts have also issued reports on FLNC. Royal Bank of Canada lowered their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Canaccord Genuity Group lowered their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research report on Friday, November 8th. Truist Financial lifted their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Fluence Energy currently has an average rating of “Moderate Buy” and a consensus price target of $25.80.

Fluence Energy Stock Performance

Shares of FLNC opened at $13.75 on Wednesday. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $26.12. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 105.77, a PEG ratio of 0.47 and a beta of 2.42. The stock has a fifty day moving average of $17.36 and a 200-day moving average of $18.55.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Fluence Energy’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. As a group, equities analysts forecast that Fluence Energy will post 0.55 EPS for the current year.

Insider Activity

In related news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently added to or reduced their stakes in FLNC. Dimensional Fund Advisors LP boosted its stake in Fluence Energy by 40.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 735,183 shares of the company’s stock valued at $12,755,000 after purchasing an additional 212,654 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Fluence Energy by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after purchasing an additional 897 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in Fluence Energy during the 2nd quarter valued at about $510,000. ProShare Advisors LLC boosted its stake in Fluence Energy by 17.0% during the 2nd quarter. ProShare Advisors LLC now owns 12,328 shares of the company’s stock valued at $214,000 after purchasing an additional 1,789 shares during the last quarter. Finally, Interval Partners LP acquired a new position in Fluence Energy during the 2nd quarter valued at about $619,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.