Fluence Energy (NASDAQ:FLNC) Downgraded to “Neutral” Rating by UBS Group

UBS Group lowered shares of Fluence Energy (NASDAQ:FLNC) from a buy rating to a neutral rating in a report released on Wednesday, Marketbeat reports. They currently have $8.00 price target on the stock, down from their prior price target of $28.00.

FLNC has been the topic of a number of other reports. Piper Sandler increased their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Canaccord Genuity Group reduced their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a report on Friday, November 8th. Susquehanna increased their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird reissued a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Fluence Energy currently has an average rating of “Hold” and an average target price of $15.21.

Fluence Energy Price Performance

NASDAQ:FLNC opened at $6.53 on Wednesday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 50.23, a PEG ratio of 0.49 and a beta of 2.37. The business has a 50 day simple moving average of $15.03 and a 200-day simple moving average of $18.07. Fluence Energy has a 1 year low of $6.35 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted 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%. As a group, analysts expect that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Hedge funds have recently modified their holdings of the company. US Bancorp DE grew its position 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 last quarter. CWM LLC boosted its stake in 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 position in Fluence Energy in the third quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Fluence Energy during the fourth quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy during the 3rd quarter valued at $87,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.