Fluence Energy (NASDAQ:FLNC) Given New $8.00 Price Target at Morgan Stanley

Fluence Energy (NASDAQ:FLNC) had its price target reduced by Morgan Stanley from $20.00 to $8.00 in a research report sent to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $25.00 to $7.00 in a report on Wednesday. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research note on Friday, November 8th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Piper Sandler lifted their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Finally, Canaccord Genuity Group reduced their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Price Performance

Shares of FLNC opened at $6.53 on Wednesday. The firm has a market cap of $1.18 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. Fluence Energy has a 1 year low of $6.35 and a 1 year high of $26.12. The company has a 50 day simple moving average of $15.03 and a two-hundred day simple moving average of $18.07.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly 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 return on equity of 4.10% and a net margin of 0.89%. On average, sell-side analysts anticipate that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased 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. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. The Manufacturers Life Insurance Company raised its position in shares of Fluence Energy by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock valued at $617,000 after purchasing an additional 2,389 shares during the last quarter. 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 worth $65,000 after buying an additional 1,767 shares during the last quarter. Renaissance Capital LLC grew its holdings in shares of Fluence Energy by 20.0% during the third quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock valued at $1,480,000 after buying an additional 10,881 shares during the last quarter. Blue Trust Inc. raised 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 worth $109,000 after acquiring an additional 1,502 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Fluence Energy by 2,170.9% during the 3rd quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock worth $245,000 after acquiring an additional 10,312 shares during the period. 53.16% of the stock is currently 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.