Fluence Energy (NASDAQ:FLNC) Lowered to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada downgraded shares of Fluence Energy (NASDAQ:FLNC) from an outperform rating to a sector perform rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has $7.00 price target on the stock, down from their prior price target of $25.00.

FLNC has been the topic of several other reports. Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Susquehanna boosted their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Finally, Truist Financial increased their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.21.

Fluence Energy Trading Down 6.7 %

Fluence Energy stock opened at $6.53 on Wednesday. The firm has a 50 day simple moving average of $15.03 and a 200 day simple moving average of $18.07. Fluence Energy has a 1-year low of $6.35 and a 1-year high of $26.12. The firm has a market capitalization of $1.18 billion, a price-to-earnings 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 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 forecast that Fluence Energy will post 0.48 EPS for the current year.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the business’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 completion of the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after acquiring an additional 110,256 shares during the period. Clearbridge Investments LLC lifted its position in Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after purchasing an additional 296,325 shares during the last quarter. FMR LLC boosted its stake in shares of Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares during the period. Geode Capital Management LLC grew its holdings in shares of Fluence Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock worth $24,035,000 after purchasing an additional 5,216 shares during the last quarter. Finally, Erste Asset Management GmbH grew its holdings in shares of Fluence Energy by 15.5% in the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock worth $18,058,000 after purchasing an additional 148,857 shares during the last quarter. Hedge funds and other 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.