Fluence Energy (NASDAQ:FLNC) Receives “Equal Weight” Rating from Barclays

Fluence Energy (NASDAQ:FLNC)‘s stock had its “equal weight” rating reissued by Barclays in a report issued on Tuesday,Benzinga reports. They presently have a $5.00 price target on the stock, down from their previous price target of $9.00. Barclays‘s price objective would indicate a potential upside of 16.55% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley decreased their target price on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $25.00 to $7.00 in a research note on Wednesday, February 12th. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $28.00 to $8.00 in a research note on Wednesday, February 12th. Canaccord Genuity Group lowered their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Citigroup cut their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Fluence Energy has a consensus rating of “Hold” and an average price target of $13.79.

Fluence Energy Price Performance

Fluence Energy stock opened at $4.29 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $778.85 million, a P/E ratio of -85.80 and a beta of 2.48. The business has a 50-day moving average of $7.06 and a 200-day moving average of $14.74. Fluence Energy has a 1 year low of $3.63 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued 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 negative net margin of 0.08% and a negative return on equity of 0.36%. On average, equities analysts anticipate that Fluence Energy will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Fluence Energy news, CEO Julian Nebreda bought 23,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the acquisition, the chief executive officer now owns 120,455 shares of the company’s stock, valued at $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Herman E. Bulls purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the purchase, the director now owns 105,861 shares of the company’s stock, valued at $691,272.33. This trade represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 79,000 shares of company stock worth $499,665 in the last 90 days. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. Sanders Morris Harris LLC bought a new position in shares of Fluence Energy in the fourth quarter worth $812,000. Cidel Asset Management Inc. bought a new position in Fluence Energy in the 4th quarter valued at about $350,000. SG Americas Securities LLC raised its position in shares of Fluence Energy by 79.2% in the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after buying an additional 21,597 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Fluence Energy during the 4th quarter worth approximately $1,429,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $5,742,000. 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.