Fluence Energy, Inc. (NASDAQ:FLNC) Receives $14.64 Average PT from Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have received a consensus recommendation of “Hold” from the twenty-four research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $14.64.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Roth Capital downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Citigroup lowered their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $25.00 to $7.00 in a report on Wednesday, February 12th. Finally, Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $6.50 in a report on Wednesday, February 12th.

Fluence Energy Trading Down 5.7 %

NASDAQ:FLNC opened at $6.94 on Friday. The firm’s fifty day moving average is $13.58 and its 200-day moving average is $17.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. Fluence Energy has a 52 week low of $6.05 and a 52 week high of $26.12. The firm has a market cap of $1.26 billion, a P/E ratio of -138.80 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last released its 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 negative net margin of 0.08% and a negative return on equity of 0.36%. Equities analysts expect that Fluence Energy will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In related news, CFO Ahmed Pasha acquired 15,500 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the acquisition, the chief financial officer now owns 24,703 shares of the company’s stock, valued at approximately $160,075.44. This represents a 168.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julian Nebreda acquired 23,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $6.35 per share, with a total value of $149,225.00. Following the acquisition, the chief executive officer now directly owns 120,455 shares of the company’s stock, valued at $764,889.25. The trade was a 24.24 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 79,000 shares of company stock worth $601,265. 0.65% of the stock is owned by company insiders.

Institutional Trading of Fluence Energy

A number of large investors have recently added to or reduced their stakes in FLNC. Zimmer Partners LP increased its holdings in Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock worth $34,052,000 after buying an additional 1,894,301 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Fluence Energy in the third quarter worth about $22,059,000. Point72 Asset Management L.P. purchased a new position in shares of Fluence Energy in the third quarter worth about $21,809,000. Webs Creek Capital Management LP purchased a new position in shares of Fluence Energy in the fourth quarter worth about $15,118,000. Finally, Covalis Capital LLP purchased a new position in shares of Fluence Energy in the fourth quarter worth about $12,113,000. 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.