Fluence Energy (NASDAQ:FLNC) Price Target Cut to $9.00 by Analysts at Barclays

Fluence Energy (NASDAQ:FLNC) had its target price lowered by Barclays from $22.00 to $9.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on FLNC. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $8.00 in a report on Wednesday. Wolfe Research lowered shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Piper Sandler increased their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Bank of America reduced their target price on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Roth Mkm cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $6.50 in a research report on Wednesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.21.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $6.53 on Wednesday. The company’s fifty day moving average price is $15.03 and its 200-day moving average price is $18.07. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a one year low of $6.35 and a one year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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, equities research analysts expect that Fluence Energy will post 0.48 EPS for the current year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FLNC. The Manufacturers Life Insurance Company lifted its position in Fluence Energy by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock valued at $617,000 after acquiring an additional 2,389 shares during the period. CWM LLC increased its stake in 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 purchasing an additional 1,767 shares in the last quarter. Renaissance Capital LLC increased its stake in Fluence Energy by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock valued at $1,480,000 after purchasing an additional 10,881 shares in the last quarter. Blue Trust Inc. increased its stake in Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after purchasing an additional 1,502 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Fluence Energy by 2,170.9% during the 3rd quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after purchasing an additional 10,312 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.