Canaccord Genuity Group Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its target price lowered by research analysts at Canaccord Genuity Group from $34.00 to $14.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 100.00% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on FLNC. Susquehanna lifted their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Piper Sandler lifted their price target on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Bank of America reduced their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Truist Financial lifted their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, UBS Group downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $28.00 to $8.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fluence Energy currently has a consensus rating of “Hold” and an average price target of $17.88.

Fluence Energy Trading Down 46.4 %

Shares of NASDAQ FLNC opened at $7.00 on Wednesday. Fluence Energy has a twelve month low of $6.56 and a twelve month high of $26.12. The firm has a 50-day moving average of $15.47 and a two-hundred day moving average of $18.22. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 53.85, a PEG ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last released its earnings results 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 net margin of 0.89% and a return on equity of 4.10%. As a group, research analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. US Bancorp DE grew its holdings 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 purchasing an additional 1,475 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in shares of Fluence Energy by 7.3% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after buying an additional 1,500 shares during the period. Blue Trust Inc. grew its stake in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares during the last quarter. KBC Group NV raised its holdings in Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after acquiring an additional 1,671 shares during the period. Finally, CWM LLC lifted its position in Fluence Energy by 164.4% during the 3rd 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. 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.