Fluence Energy (NASDAQ:FLNC) Lowered to “Neutral” Rating by UBS Group

Fluence Energy (NASDAQ:FLNC) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. They currently have a $8.00 target price on the stock, down from their previous target price of $28.00. UBS Group’s price objective would suggest a potential upside of 14.29% from the stock’s previous close.

FLNC has been the subject of several other reports. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $22.00 to $10.00 in a research report on Tuesday. Susquehanna increased their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Truist Financial increased their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Guggenheim downgraded Fluence Energy from a “buy” rating to a “sell” rating and dropped their target price for the company from $26.00 to $6.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.50.

Fluence Energy Price Performance

Shares of NASDAQ FLNC opened at $7.00 on Wednesday. The stock’s fifty day moving average price is $15.47 and its two-hundred day moving average price is $18.22. Fluence Energy has a one year low of $6.56 and a one year high of $26.12. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 53.85, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last released its 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 anticipate that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The stock was purchased at an average price 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 approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLNC. Erste Asset Management GmbH purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $22,059,000. Point72 Asset Management L.P. bought a new stake in Fluence Energy during the third quarter worth $21,809,000. Principal Financial Group Inc. bought a new stake in Fluence Energy during the third quarter worth $5,742,000. Zimmer Partners LP bought a new stake in Fluence Energy during the third quarter worth $5,678,000. Finally, JPMorgan Chase & Co. lifted its holdings in Fluence Energy by 73.7% during the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock worth $12,177,000 after acquiring an additional 227,549 shares during the period. Hedge funds and other 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.