Fluence Energy (NASDAQ:FLNC) Given New $10.00 Price Target at Susquehanna

Fluence Energy (NASDAQ:FLNC) had its target price cut by Susquehanna from $23.00 to $10.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 43.70% from the company’s current price.

A number of other analysts have also commented on the company. Morgan Stanley reduced their target price on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday. Canaccord Genuity Group lowered their target price on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a research note on Friday, November 8th. Citigroup lowered their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given 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 target price of $16.55.

Fluence Energy Trading Down 0.6 %

Fluence Energy stock traded down $0.04 during mid-day trading on Wednesday, hitting $6.96. The company had a trading volume of 4,224,235 shares, compared to its average volume of 5,407,791. Fluence Energy has a 12 month low of $6.35 and a 12 month high of $26.12. The company has a market capitalization of $1.26 billion, a PE ratio of 53.96, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The stock’s 50 day moving average price is $15.47 and its two-hundred day moving average price is $18.22.

Fluence Energy (NASDAQ:FLNC) last released 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 net margin of 0.89% and a return on equity of 4.10%. Equities research analysts anticipate that Fluence Energy will post 0.48 EPS for the current year.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently added to or reduced their stakes in FLNC. US Bancorp DE lifted its holdings in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. CWM LLC raised its holdings in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Fluence Energy in the third quarter worth about $74,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy during the fourth quarter valued at approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy in the third quarter worth approximately $87,000. 53.16% of the stock is owned by hedge funds and other 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.