Guggenheim Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $2.00

Fluence Energy (NASDAQ:FLNC) had its price target reduced by Guggenheim from $6.00 to $2.00 in a research report released on Tuesday, MarketBeat.com reports. They currently have a sell rating on the stock.

Several other analysts also recently issued reports on the stock. Mizuho assumed coverage on shares of Fluence Energy in a research report on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 price target for the company. Citigroup decreased their target price on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Susquehanna dropped their price target on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a research report on Monday. JPMorgan Chase & Co. downgraded Fluence Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, Morgan Stanley lowered their price objective on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.43.

Fluence Energy Stock Up 1.4 %

Shares of NASDAQ FLNC opened at $3.69 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The firm has a market cap of $669.92 million, a PE ratio of -73.80 and a beta of 2.48. The company’s fifty day simple moving average is $5.30 and its 200 day simple moving average is $13.64. Fluence Energy has a 12-month low of $3.49 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 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%. As a group, sell-side analysts forecast that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Julian Nebreda acquired 23,500 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the acquisition, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ahmed Pasha acquired 15,500 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $160,075.44. The trade was a 168.42 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 79,000 shares of company stock worth $499,665. 0.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNC. Janney Montgomery Scott LLC purchased a new stake in shares of Fluence Energy in the 1st quarter worth about $403,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Fluence Energy in the first quarter worth about $128,000. SG Americas Securities LLC boosted its position in Fluence Energy by 101.7% during the 1st quarter. SG Americas Securities LLC now owns 98,621 shares of the company’s stock valued at $478,000 after acquiring an additional 49,738 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Fluence Energy in the 1st quarter worth approximately $89,000. Finally, City Center Advisors LLC purchased a new position in shares of Fluence Energy in the 1st quarter valued at approximately $121,000. Institutional investors 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.