Hsbc Global Res Downgrades Fluence Energy (NASDAQ:FLNC) to Hold

Fluence Energy (NASDAQ:FLNC) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Citigroup reduced their price objective on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. The Goldman Sachs Group decreased their price target on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. UBS Group dropped their price target on shares of Fluence Energy from $8.00 to $4.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Guggenheim reduced their price target on Fluence Energy from $6.00 to $2.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. Finally, Bank of America downgraded Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $8.00 in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.64.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $4.12 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 market capitalization of $747.98 million, a P/E ratio of -82.40 and a beta of 2.48. Fluence Energy has a 12 month low of $3.46 and a 12 month high of $26.12. The stock has a 50 day moving average of $4.84 and a 200-day moving average of $12.61.

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

Insider Activity at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the completion of the purchase, the director now directly owns 115,861 shares in the company, valued at $626,808.01. The trade was a 9.45 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Julian Nebreda bought 23,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $6.35 per share, with a total value of $149,225.00. Following the transaction, the chief executive officer now directly owns 120,455 shares in the company, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 79,000 shares of company stock worth $499,665 in the last quarter. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Institutional investors have recently modified their holdings of the company. Morse Asset Management Inc bought a new stake in Fluence Energy during the third quarter valued at $175,000. Barclays PLC boosted its stake in Fluence Energy by 296.8% during the 3rd quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after purchasing an additional 135,957 shares during the last quarter. Franklin Resources Inc. grew its holdings in Fluence Energy by 11.8% during the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock worth $3,644,000 after buying an additional 17,551 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Fluence Energy in the 3rd quarter worth $5,742,000. Finally, JPMorgan Chase & Co. increased its stake in Fluence Energy by 73.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after buying an additional 227,549 shares during the last quarter. 53.16% of the stock is owned by institutional investors.

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.