Fluence Energy (NASDAQ:FLNC) Price Target Cut to $8.00 by Analysts at Susquehanna

Fluence Energy (NASDAQ:FLNC) had its price target lowered by Susquehanna from $10.00 to $8.00 in a report published on Monday,Benzinga reports. The firm currently has a positive rating on the stock.

Several other research analysts also recently issued reports on FLNC. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $6.50 in a research report on Wednesday, February 12th. Mizuho started coverage on shares of Fluence Energy in a research report on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 price objective for the company. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $25.00 to $7.00 in a report on Wednesday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group decreased their target price on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Fluence Energy presently has a consensus rating of “Hold” and a consensus target price of $12.52.

Fluence Energy Trading Down 2.4 %

Shares of Fluence Energy stock opened at $4.06 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $5.84 and a 200-day simple moving average of $13.91. The stock has a market cap of $737.09 million, a price-to-earnings ratio of -81.20 and a beta of 2.48. Fluence Energy has a 12-month low of $3.63 and a 12-month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data 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 negative net margin of 0.08% and a negative return on equity of 0.36%. On average, equities analysts forecast that Fluence Energy will post 0.08 EPS for the current fiscal year.

Insider Activity at Fluence Energy

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FLNC. Duff & Phelps Investment Management Co. increased its holdings in Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after purchasing an additional 1,432 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its stake in shares of Fluence Energy by 7.3% in 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 last quarter. KBC Group NV raised its holdings in Fluence Energy by 1.6% in the fourth 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. Ameriprise Financial Inc. raised its holdings in Fluence Energy by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company’s stock valued at $6,988,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Fluence Energy by 1.4% during the 4th quarter. Swiss National Bank now owns 126,800 shares of the company’s stock valued at $2,014,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other 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.