Fluence Energy (NASDAQ:FLNC) Cut to Hold at Jefferies Financial Group

Fluence Energy (NASDAQ:FLNC) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $15.00 price target on the stock, down from their prior price target of $22.00. Jefferies Financial Group’s price objective indicates a potential upside of 9.09% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a report on Friday, December 6th. Susquehanna lifted their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Piper Sandler boosted 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. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.80.

Fluence Energy Stock Up 3.2 %

Fluence Energy stock opened at $13.75 on Wednesday. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $26.12. The company’s 50 day moving average price is $17.36 and its two-hundred day moving average price is $18.55. The stock has a market cap of $2.49 billion, a P/E ratio of 105.77, a P/E/G ratio of 0.47 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. On average, equities analysts anticipate that Fluence Energy will post 0.55 EPS for the current year.

Insider Activity

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought 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 owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its position in Fluence Energy by 3.8% in the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after acquiring an additional 897 shares in the last quarter. US Bancorp DE grew its position in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares in the last quarter. Blue Trust Inc. grew its position in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after acquiring an additional 1,502 shares in the last quarter. KBC Group NV grew its position in Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after acquiring an additional 1,671 shares in the last quarter. Finally, CWM LLC grew its position in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.