Fluence Energy (NASDAQ:FLNC) Downgraded by Roth Mkm to “Neutral”

Fluence Energy (NASDAQ:FLNC) was downgraded by analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $6.50 target price on the stock, down from their prior target price of $20.00. Roth Mkm’s target price would indicate a potential downside of 7.14% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Bank of America cut their price target on Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Truist Financial boosted their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Citigroup decreased their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Susquehanna increased their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Fluence Energy currently has an average rating of “Hold” and an average price target of $20.50.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $7.00 on Wednesday. The stock has a 50 day moving average price of $15.47 and a 200 day moving average price of $18.22. The firm has a market capitalization of $1.27 billion, a P/E ratio of 53.85, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52-week low of $6.56 and a 52-week high of $26.12.

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

Insider Activity

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the purchase, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in 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 during the last quarter. Vanguard Group Inc. raised its stake in 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 during the last quarter. Fox Run Management L.L.C. acquired a new position in Fluence Energy in the 4th quarter valued at $273,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Fluence Energy in the 4th quarter worth $213,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Fluence Energy in the 4th quarter worth $176,000. 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.