Canaccord Genuity Group Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $10.00

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by stock analysts at Canaccord Genuity Group from $14.00 to $10.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 171.00% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. Bank of America cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. UBS Group decreased their price target on shares of Fluence Energy from $8.00 to $4.50 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley cut their price objective on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Finally, Piper Sandler cut their price target on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.43.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $3.69 on Wednesday. The stock’s fifty day simple moving average is $5.30 and its 200-day simple moving average is $13.64. The company has a market capitalization of $669.92 million, a price-to-earnings ratio of -73.80 and a beta of 2.48. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy has a 1-year low of $3.49 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. On average, sell-side analysts predict that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other news, CFO Ahmed Pasha purchased 15,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $6.48 per share, with a total value of $100,440.00. Following the purchase, the chief financial officer now owns 24,703 shares in the company, valued at $160,075.44. This represents a 168.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Herman E. Bulls acquired 30,000 shares of Fluence Energy stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $6.53 per share, with a total value of $195,900.00. Following the purchase, the director now directly owns 105,861 shares of the company’s stock, valued at approximately $691,272.33. This trade represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 79,000 shares of company stock worth $499,665 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new position in shares of Fluence Energy during the fourth quarter valued at about $34,000. Alpha Wealth Funds LLC bought a new position in Fluence Energy in the 1st quarter valued at about $63,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy in the 4th quarter valued at about $79,000. Tower Research Capital LLC TRC boosted its stake in Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock valued at $88,000 after purchasing an additional 4,921 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Fluence Energy during the 1st quarter worth approximately $89,000. 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.