Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $13.00 at Truist Financial

Fluence Energy (NASDAQ:FLNC) had its target price decreased by Truist Financial from $28.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 88.27% from the stock’s previous close.

A number of other brokerages have also issued reports on FLNC. Royal Bank of Canada lowered shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $25.00 to $7.00 in a research report on Wednesday. Citigroup lowered their price target on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday. Susquehanna lowered their price target on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a report on Wednesday. BMO Capital Markets cut Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $22.00 to $10.00 in a research report on Tuesday. Finally, Morgan Stanley reduced their target price on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.21.

Fluence Energy Stock Down 1.4 %

Shares of FLNC traded down $0.10 during mid-day trading on Wednesday, hitting $6.91. The company had a trading volume of 8,323,150 shares, compared to its average volume of 5,598,420. Fluence Energy has a 1-year low of $6.35 and a 1-year high of $26.12. The business’s 50-day simple moving average is $15.47 and its 200-day simple moving average is $18.22. The stock has a market cap of $1.25 billion, a PE ratio of 53.28, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data 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 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 earnings per share for the current year.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE raised its holdings in Fluence Energy by 676.6% during the third 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 boosted its position in shares of Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy in the third quarter valued at approximately $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.