Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $10.00 at Piper Sandler

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by Piper Sandler from $20.00 to $10.00 in a report published on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research analysts also recently weighed in on the company. Robert W. Baird reaffirmed 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. Morgan Stanley cut their target price on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $22.00 to $10.00 in a research note on Tuesday. Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and lowered their target price for the stock from $26.00 to $6.00 in a report on Tuesday. Finally, BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy has an average rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Trading Down 6.7 %

NASDAQ:FLNC opened at $6.53 on Wednesday. The company has a market cap of $1.18 billion, a PE ratio of 50.23, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a twelve month low of $6.35 and a twelve month high of $26.12. The company’s 50 day moving average is $15.03 and its two-hundred day moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Monday, December 23rd. The stock was 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 of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in Fluence Energy by 676.6% during 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 period. CWM LLC grew its stake in shares of 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 acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy during the third quarter worth about $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Fluence Energy in the fourth quarter worth about $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Fluence Energy in the third quarter valued at about $87,000. 53.16% of the stock is owned by institutional investors and hedge funds.

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.