Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $10.00 at Piper Sandler

Fluence Energy (NASDAQ:FLNC) had its price target decreased by equities researchers at Piper Sandler from $20.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 46.11% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Susquehanna increased their price target on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Bank of America reduced their price objective on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Citigroup dropped their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. Guggenheim lowered shares of Fluence Energy from a “buy” rating to a “sell” rating and reduced their price target for the company from $26.00 to $6.00 in a research report on Tuesday. Finally, Morgan Stanley dropped their price objective on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.40.

Fluence Energy Price Performance

Fluence Energy stock opened at $6.84 on Wednesday. Fluence Energy has a one year low of $6.56 and a one year high of $26.12. The business’s fifty day moving average is $15.47 and its 200 day moving average is $18.22. The stock has a market capitalization of $1.24 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS 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%. As a group, sell-side analysts expect that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the purchase, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Fluence Energy during the fourth quarter valued at $1,321,000. Blair William & Co. IL bought a new stake in shares of Fluence Energy in the 4th quarter worth about $373,000. Prudential Financial Inc. raised its position in shares of Fluence Energy by 11.4% during the 4th quarter. Prudential Financial Inc. now owns 241,925 shares of the company’s stock valued at $3,842,000 after buying an additional 24,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Fluence Energy by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after acquiring an additional 110,256 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Fluence Energy during the fourth quarter worth approximately $273,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

About Fluence Energy

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.