Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by BMO Capital Markets

Fluence Energy (NASDAQ:FLNC) was downgraded by investment analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They presently have a $10.00 price objective on the stock, down from their prior price objective of $22.00. BMO Capital Markets’ price objective would indicate a potential downside of 23.49% from the company’s previous close.

FLNC has been the topic of several other research reports. Canaccord Genuity Group decreased their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Piper Sandler raised their target price on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Susquehanna raised their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Finally, Barclays lowered their target price on Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy currently has an average rating of “Hold” and an average price target of $23.85.

Fluence Energy Stock Performance

Shares of FLNC opened at $13.07 on Tuesday. Fluence Energy has a one year low of $11.89 and a one year high of $26.12. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 100.54, a PEG ratio of 0.49 and a beta of 2.37. The stock has a 50 day moving average price of $15.58 and a 200 day moving average price of $18.23.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. On average, analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, 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 is accessible through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC acquired a new position in Fluence Energy during the fourth quarter worth approximately $812,000. SG Americas Securities LLC increased its position in Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after buying an additional 21,597 shares during the period. FMR LLC increased its position in Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares during the period. Principal Financial Group Inc. acquired a new position in Fluence Energy during the third quarter worth approximately $5,742,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Fluence Energy in the third quarter valued at approximately $22,059,000. Institutional investors and hedge funds 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.