Fluence Energy (NASDAQ:FLNC) Downgraded by Wolfe Research to Peer Perform

Wolfe Research cut shares of Fluence Energy (NASDAQ:FLNC) from an outperform rating to a peer perform rating in a report released on Wednesday morning, MarketBeat reports.

Several other analysts also recently commented on the stock. Royal Bank of Canada decreased their target price on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Citigroup decreased their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday. Truist Financial raised their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $22.00 to $10.00 in a research note on Tuesday. Finally, Piper Sandler increased their price objective on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Fluence Energy currently has an average rating of “Hold” and a consensus target price of $15.21.

Fluence Energy Stock Down 6.7 %

Fluence Energy stock opened at $6.53 on Wednesday. Fluence Energy has a 12 month low of $6.35 and a 12 month high of $26.12. The company’s fifty day simple moving average is $15.03 and its 200-day simple moving average is $18.07. The stock has a market cap of $1.18 billion, a P/E ratio of 50.23, a P/E/G 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. On average, equities research analysts expect that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by company insiders.

Institutional Trading of Fluence Energy

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its position in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the period. CWM LLC lifted its holdings in shares of 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 period. Point72 DIFC Ltd acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Fluence Energy during the 4th quarter valued at about $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Fluence Energy in the third quarter valued at about $87,000. 53.16% of the stock is currently owned by institutional investors.

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.