Fluence Energy (NASDAQ:FLNC) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of Fluence Energy (NASDAQ:FLNC) from a neutral rating to a buy rating in a report issued on Wednesday, MarketBeat.com reports. They currently have $24.00 price target on the stock, down from their previous price target of $26.00.

Other equities analysts have also issued research reports about the stock. Roth Capital upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, May 8th. Canaccord Genuity Group set a $28.00 price objective on Fluence Energy in a report on Friday, May 8th. Royal Bank Of Canada upped their price objective on Fluence Energy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. Barclays cut their target price on Fluence Energy from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, April 13th. Finally, Weiss Ratings cut Fluence Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Fluence Energy presently has a consensus rating of “Hold” and an average price target of $19.53.

Fluence Energy Trading Down 4.1%

Shares of FLNC stock opened at $14.66 on Wednesday. The firm has a market cap of $2.70 billion, a P/E ratio of -40.72 and a beta of 2.75. Fluence Energy has a 1-year low of $6.60 and a 1-year high of $33.51. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.91. The firm’s 50-day simple moving average is $20.19 and its 200-day simple moving average is $19.09.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The business had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. During the same period last year, the company earned ($0.24) earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that Fluence Energy will post -0.18 EPS for the current year.

Insider Transactions at Fluence Energy

In other news, SVP John Zahurancik sold 15,974 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total value of $351,907.22. Following the transaction, the senior vice president owned 71,171 shares of the company’s stock, valued at approximately $1,567,897.13. This trade represents a 18.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the sale, the insider directly owned 11,801,103 shares of the company’s stock, valued at approximately $247,823,163. This trade represents a 19.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,904,146 shares of company stock valued at $61,090,399 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Steadtrust LLC acquired a new stake in shares of Fluence Energy in the second quarter valued at about $235,000. Assenagon Asset Management S.A. purchased a new stake in shares of Fluence Energy during the 2nd quarter valued at about $510,000. Bank of America Corp DE lifted its position in Fluence Energy by 24.4% during the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock worth $42,460,000 after acquiring an additional 604,983 shares in the last quarter. Edgestream Partners L.P. lifted its position in Fluence Energy by 1,086.3% during the 1st quarter. Edgestream Partners L.P. now owns 385,804 shares of the company’s stock worth $5,309,000 after acquiring an additional 353,282 shares in the last quarter. Finally, Altshuler Shaham Ltd lifted its position in Fluence Energy by 84.6% during the 1st quarter. Altshuler Shaham Ltd now owns 84,150 shares of the company’s stock worth $1,158,000 after acquiring an additional 38,556 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.