Fluence Energy (NASDAQ:FLNC) Reaches New 12-Month Low on Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price reached a new 52-week low during trading on Wednesday after Bank of America lowered their price target on the stock from $25.00 to $20.00. Bank of America currently has a buy rating on the stock. Fluence Energy traded as low as $12.43 and last traded at $12.65, with a volume of 3580022 shares trading hands. The stock had previously closed at $13.69.

Several other research analysts also recently weighed in on FLNC. Robert W. Baird reiterated a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Susquehanna increased their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada dropped their price target on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Finally, Canaccord Genuity Group reduced their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and an average target price of $25.60.

Insider Activity at Fluence Energy

In related news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by insiders.

Institutional Trading of Fluence Energy

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its holdings in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the last quarter. CWM LLC increased its position in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd bought a new position in shares of Fluence Energy during the third quarter valued at about $74,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy during the third quarter worth about $87,000. Finally, Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 1,502 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Up 4.3 %

The business has a fifty day moving average of $16.50 and a 200-day moving average of $18.37. The company has a market cap of $2.50 billion, a PE ratio of 106.31, a P/E/G ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. As a group, research analysts predict that Fluence Energy, Inc. will post 0.55 EPS for the current year.

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.