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

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by investment analysts at Piper Sandler from $20.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 61.81% from the stock’s previous close.

FLNC has been the topic of a number of other research reports. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $22.00 to $10.00 in a report on Tuesday. Morgan Stanley cut their target price on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada lowered Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $25.00 to $7.00 in a research report on Wednesday. Bank of America cut their price objective on Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $6.18 on Wednesday. The firm has a market capitalization of $1.12 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52-week low of $6.05 and a 52-week high of $26.12. The firm has a fifty day moving average of $15.03 and a 200 day moving average of $18.07.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS 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%. On average, sell-side analysts forecast that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after acquiring an additional 110,256 shares during the period. Clearbridge Investments LLC lifted its position in shares of Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after purchasing an additional 296,325 shares during the last quarter. FMR LLC boosted its stake in shares of Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares during the period. Geode Capital Management LLC grew its holdings in shares of Fluence Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock worth $24,035,000 after purchasing an additional 5,216 shares during the last quarter. Finally, Erste Asset Management GmbH increased its stake in Fluence Energy by 15.5% in the 4th quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock worth $18,058,000 after buying an additional 148,857 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.