Fluence Energy (NASDAQ:FLNC) Lowered to “Neutral” Rating by Bank of America

Bank of America cut shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a neutral rating in a research note released on Thursday, MarketBeat.com reports. Bank of America currently has $8.00 target price on the stock, down from their previous target price of $20.00.

Other research analysts also recently issued reports about the company. Susquehanna lowered their target price on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a research note on Wednesday. UBS Group downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $8.00 in a research note on Wednesday. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $22.00 to $10.00 in a research note on Tuesday. Piper Sandler reduced their price target on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Roth Mkm cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $6.50 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy presently has a consensus rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Down 5.4 %

NASDAQ:FLNC opened at $6.18 on Thursday. The stock’s 50 day moving average price is $15.03 and its 200 day moving average price is $18.07. The company has a market capitalization of $1.12 billion, a PE ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52-week low of $6.05 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results 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 return on equity of 4.10% and a net margin of 0.89%. As a group, sell-side analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH purchased a new stake in shares of Fluence Energy in the third quarter valued at $22,059,000. Point72 Asset Management L.P. purchased a new stake in shares of Fluence Energy in the third quarter valued at $21,809,000. Trexquant Investment LP grew its position in shares of Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after purchasing an additional 747,103 shares during the period. Clearbridge Investments LLC grew its position in shares of 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 period. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Fluence Energy in the fourth quarter valued at $4,288,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Company Profile

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.