Barclays Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $9.00

Fluence Energy (NASDAQ:FLNC) had its price target decreased by Barclays from $22.00 to $9.00 in a report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. UBS Group lowered Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $28.00 to $8.00 in a research report on Wednesday. Finally, Roth Mkm lowered Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $6.50 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Trading Up 4.0 %

Shares of NASDAQ FLNC opened at $6.43 on Wednesday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 49.46, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 1-year low of $6.05 and a 1-year high of $26.12. The stock’s 50-day moving average is $14.60 and its 200 day moving average is $17.92.

Fluence Energy (NASDAQ:FLNC) last announced 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%. On average, analysts forecast 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 purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the transaction, the director now directly owns 105,861 shares of the company’s stock, valued at $691,272.33. This trade represents a 39.55 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLNC. Altshuler Shaham Ltd purchased a new position in Fluence Energy during the fourth quarter valued at $34,000. US Bancorp DE raised its stake in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the last quarter. CWM LLC raised its stake in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Fluence Energy during the third quarter valued at $74,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Fluence Energy during the fourth quarter valued at $79,000. Hedge funds and other 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.