Truist Financial Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $13.00

Fluence Energy (NASDAQ:FLNC) had its target price cut by equities research analysts at Truist Financial from $28.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 110.36% from the company’s current price.

Other analysts also recently issued research reports about the company. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $22.00 to $10.00 in a research note on Tuesday. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Robert W. Baird reiterated a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Finally, Barclays lowered their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Trading Down 5.4 %

Shares of Fluence Energy stock opened at $6.18 on Wednesday. The company has a market capitalization of $1.12 billion, a PE ratio of 47.54, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a 12 month low of $6.05 and a 12 month high of $26.12. The stock’s fifty day simple moving average is $15.03 and its 200 day simple moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Analysts predict that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in Fluence Energy during the fourth quarter worth approximately $34,000. US Bancorp DE lifted its position in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the last quarter. CWM LLC lifted its position in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Fluence Energy during the third quarter worth approximately $74,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in Fluence Energy during the fourth quarter worth approximately $79,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.