Canaccord Genuity Group Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price target lowered by stock analysts at Canaccord Genuity Group from $14.00 to $10.00 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 171.00% from the company’s current price.

Other analysts have also recently issued research reports about the company. BMO Capital Markets cut Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $22.00 to $10.00 in a research report on Tuesday, February 11th. Roth Capital downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Mizuho started coverage on shares of Fluence Energy in a report on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Bank of America downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $8.00 in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Fluence Energy presently has an average rating of “Hold” and a consensus price target of $11.43.

Fluence Energy Stock Performance

Shares of Fluence Energy stock opened at $3.69 on Wednesday. The company has a market capitalization of $669.92 million, a PE ratio of -73.80 and a beta of 2.48. The company has a 50-day simple moving average of $5.30 and a two-hundred day simple moving average of $13.64. Fluence Energy has a one year low of $3.49 and a one year high of $26.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. Research analysts expect that Fluence Energy will post 0.08 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the acquisition, the director now directly owns 105,861 shares of the company’s stock, valued at approximately $691,272.33. The trade was a 39.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Julian Nebreda purchased 23,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the acquisition, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. The trade was a 24.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 79,000 shares of company stock valued at $499,665 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC increased its holdings in shares of Fluence Energy by 28.6% during the third quarter. HighTower Advisors LLC now owns 18,865 shares of the company’s stock valued at $428,000 after purchasing an additional 4,190 shares during the period. Morse Asset Management Inc acquired a new position in Fluence Energy during the 3rd quarter valued at about $175,000. Barclays PLC raised its position in shares of Fluence Energy by 296.8% during the 3rd quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after buying an additional 135,957 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Fluence Energy by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after buying an additional 60,633 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Fluence Energy by 11.8% in the 3rd quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock worth $3,644,000 after acquiring an additional 17,551 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.