BMO Capital Markets Downgrades Fluence Energy (NASDAQ:FLNC) to Market Perform

Fluence Energy (NASDAQ:FLNC) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Marketbeat.com reports. They presently have a $10.00 price objective on the stock, down from their previous price objective of $22.00. BMO Capital Markets’ price objective indicates a potential upside of 53.14% from the company’s current price.

FLNC has been the topic of several other reports. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Susquehanna raised their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Royal Bank of Canada dropped their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, Bank of America cut their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.21.

Fluence Energy Stock Down 6.7 %

FLNC opened at $6.53 on Tuesday. Fluence Energy has a twelve month low of $6.35 and a twelve month high of $26.12. The company has a fifty day moving average of $15.03 and a 200-day moving average of $18.07. The stock has a market cap of $1.18 billion, a PE ratio of 50.23, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results 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%. Sell-side analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of FLNC. US Bancorp DE grew its holdings in shares of Fluence Energy by 676.6% in the third 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 in the last quarter. CWM LLC boosted its position in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy in the 3rd quarter valued at $74,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy during the 3rd quarter valued at $87,000. Finally, Blue Trust Inc. raised its stake in shares of Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares during the period. Institutional investors 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.