Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $14.00 at Canaccord Genuity Group

Fluence Energy (NASDAQ:FLNC) had its price objective cut by Canaccord Genuity Group from $34.00 to $14.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 126.54% from the company’s current price.

Several other analysts also recently commented on FLNC. BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $22.00 to $10.00 in a research report on Tuesday. Roth Mkm cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $6.50 in a report on Wednesday. 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. UBS Group cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $28.00 to $8.00 in a research report on Wednesday. Finally, Royal Bank of Canada lowered Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $25.00 to $7.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Trading Down 5.4 %

Shares of FLNC stock opened at $6.18 on Wednesday. The stock’s fifty day simple moving average is $15.03 and its 200-day simple moving average is $18.07. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 1-year low of $6.05 and a 1-year high of $26.12.

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 analysts’ consensus estimates 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, sell-side analysts predict that Fluence Energy will post 0.48 EPS for the current year.

Insider Buying and Selling

In other news, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLNC. Duff & Phelps Investment Management Co. raised its holdings in shares of Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after acquiring an additional 1,432 shares during the period. US Bancorp DE lifted its holdings in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its position in shares of 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 during the period. Blue Trust Inc. grew its holdings in shares of Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after buying an additional 1,502 shares in the last quarter. Finally, KBC Group NV raised its position in Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after buying an additional 1,671 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.