Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by Jefferies Financial Group

Fluence Energy (NASDAQ:FLNC) was downgraded by analysts at Jefferies Financial Group from a “hold” rating to an “underperform” rating in a report issued on Thursday, MarketBeat reports. They presently have a $3.00 price target on the stock, down from their previous price target of $4.00. Jefferies Financial Group’s price objective suggests a potential downside of 44.55% from the company’s current price.

FLNC has been the topic of a number of other reports. Piper Sandler decreased their price objective on Fluence Energy from $10.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $25.00 to $7.00 in a research note on Wednesday, February 12th. Hsbc Global Res downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. The Goldman Sachs Group reduced their price target on Fluence Energy from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. cut Fluence Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $7.00 in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Hold” and an average target price of $8.17.

Fluence Energy Stock Performance

FLNC opened at $5.41 on Thursday. Fluence Energy has a 52-week low of $3.46 and a 52-week 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. The company has a market cap of $982.18 million, a PE ratio of -108.20 and a beta of 2.49. The stock has a 50-day moving average of $4.60 and a 200-day moving average of $11.22.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The firm had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. During the same period last year, the company earned ($0.07) EPS. The company’s revenue was down 30.7% on a year-over-year basis. As a group, equities research analysts forecast that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the transaction, the director now owns 115,861 shares of the company’s stock, valued at $626,808.01. The trade was a 9.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cynthia A. Arnold purchased 33,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director now directly owns 86,202 shares of the company’s stock, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

Institutional investors have recently bought and sold shares of the company. Sanders Morris Harris LLC bought a new stake in Fluence Energy during the fourth quarter valued at $812,000. Cidel Asset Management Inc. bought a new position in shares of Fluence Energy during the 4th quarter worth about $350,000. SG Americas Securities LLC boosted its position in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after purchasing an additional 21,597 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Fluence Energy during the 4th quarter worth about $1,429,000. Finally, Raymond James Financial Inc. bought a new position in shares of Fluence Energy during the 4th quarter worth about $1,221,000. 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.