Fluence Energy (NASDAQ:FLNC) Given New $10.00 Price Target at Citigroup

Fluence Energy (NASDAQ:FLNC) had its price target decreased by Citigroup from $24.00 to $10.00 in a research report report published on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on FLNC. Susquehanna lifted their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. Guggenheim lowered shares of Fluence Energy from a “buy” rating to a “sell” rating and lowered their target price for the company from $26.00 to $6.00 in a report on Tuesday. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, Barclays lowered their target price on shares of Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy currently has an average rating of “Hold” and an average target price of $23.15.

Fluence Energy Stock Performance

Fluence Energy stock opened at $7.00 on Tuesday. The stock’s 50 day simple moving average is $15.47 and its two-hundred day simple moving average is $18.22. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a fifty-two week low of $6.56 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share 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, analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently modified their holdings of the business. US Bancorp DE grew its position in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the period. CWM LLC grew its position in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Fluence Energy during the 3rd quarter valued at $74,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Fluence Energy during the 4th quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy during the 3rd quarter valued at $87,000. Institutional investors own 53.16% of the company’s stock.

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.