Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by Guggenheim

Guggenheim cut shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a sell rating in a research note published on Tuesday morning, Marketbeat reports. They currently have $6.00 price target on the stock, down from their previous price target of $26.00.

A number of other brokerages also recently weighed in on FLNC. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Friday, November 8th. Susquehanna lifted 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. Robert W. Baird reiterated a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Canaccord Genuity Group lowered their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.15.

Fluence Energy Stock Performance

FLNC opened at $7.00 on Tuesday. The stock’s fifty day moving average is $15.47 and its 200-day moving average is $18.22. The company has a market capitalization of $1.27 billion, a PE ratio of 53.85, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a one year low of $6.56 and a one year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (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%. On average, equities research analysts forecast that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its position in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its position in Fluence Energy by 7.3% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after acquiring an additional 1,500 shares during the last quarter. Blue Trust Inc. grew its position in 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 acquiring an additional 1,502 shares during the last quarter. KBC Group NV grew its position in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after acquiring an additional 1,671 shares during the last quarter. Finally, CWM LLC grew its position in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

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.