Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $9.00 at Barclays

Fluence Energy (NASDAQ:FLNC) had its target price lowered by stock analysts at Barclays from $22.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 28.57% from the company’s current price.

Several other brokerages have also issued reports on FLNC. Guggenheim lowered Fluence Energy from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $26.00 to $6.00 in a report on Tuesday. Robert W. Baird reissued 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. Citigroup reduced their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $6.50 in a research report on Wednesday. Finally, Canaccord Genuity Group reduced their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.88.

Fluence Energy Stock Down 46.4 %

NASDAQ:FLNC opened at $7.00 on Wednesday. The stock’s fifty day moving average is $15.47 and its two-hundred day moving average is $18.22. Fluence Energy has a 52 week low of $6.56 and a 52 week high of $26.12. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data 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, sell-side analysts expect that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its stake in shares of Fluence Energy by 11.4% in the 4th quarter. Prudential Financial Inc. now owns 241,925 shares of the company’s stock valued at $3,842,000 after purchasing an additional 24,800 shares in the last quarter. Vanguard Group Inc. raised its stake 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 purchasing an additional 110,256 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Fluence Energy in the 4th quarter valued at about $273,000. KLP Kapitalforvaltning AS bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $213,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $176,000. Institutional investors and hedge funds 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.