Citigroup Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its target price decreased by equities researchers at Citigroup from $24.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 43.78% from the stock’s previous close.

Several other brokerages have also issued reports on FLNC. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial increased their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird restated a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada cut their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.15.

Fluence Energy Trading Down 46.8 %

NASDAQ FLNC traded down $6.12 on Tuesday, hitting $6.96. 26,416,630 shares of the company’s stock were exchanged, compared to its average volume of 4,467,613. Fluence Energy has a 52 week low of $6.64 and a 52 week high of $26.12. The stock has a 50-day moving average of $15.58 and a 200-day moving average of $18.23. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 52.31, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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, analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased 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 worth $38,000 after purchasing an additional 1,475 shares in the last quarter. Lazard Freres Gestion S.A.S. grew its holdings in Fluence Energy by 7.3% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after buying an additional 1,500 shares in the last quarter. Blue Trust Inc. raised its position in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares during the last quarter. KBC Group NV lifted its stake in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after acquiring an additional 1,671 shares in the last quarter. Finally, CWM LLC boosted its holdings in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the last quarter. 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.