Susquehanna Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $8.00

Fluence Energy (NASDAQ:FLNC) had its target price cut by equities research analysts at Susquehanna from $10.00 to $8.00 in a report issued on Monday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 94.65% from the company’s current price.

FLNC has been the subject of a number of other research reports. Roth Capital downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Robert W. Baird restated a “neutral” rating and set a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. The Goldman Sachs Group dropped their target price on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Canaccord Genuity Group decreased their price target on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Mizuho initiated coverage on Fluence Energy in a research note on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.69.

Fluence Energy Stock Down 1.2 %

FLNC traded down $0.05 during mid-day trading on Monday, reaching $4.11. 1,102,437 shares of the stock were exchanged, compared to its average volume of 3,306,273. Fluence Energy has a 1 year low of $3.63 and a 1 year high of $26.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The stock has a market capitalization of $746.17 million, a PE ratio of -82.20 and a beta of 2.48. The company has a 50 day moving average price of $6.00 and a two-hundred day moving average price of $14.04.

Fluence Energy (NASDAQ:FLNC) last released 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 negative return on equity of 0.36% and a negative net margin of 0.08%. As a group, research analysts anticipate that Fluence Energy will post 0.08 EPS for the current year.

Insider Transactions at Fluence Energy

In other Fluence Energy news, CEO Julian Nebreda bought 23,500 shares of Fluence Energy stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $6.35 per share, with a total value of $149,225.00. Following the acquisition, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herman E. Bulls purchased 30,000 shares of the stock in a transaction on Thursday, February 13th. The stock was acquired at an average cost of $6.53 per share, with a total value of $195,900.00. Following the completion of the purchase, the director now directly owns 105,861 shares of the company’s stock, valued at $691,272.33. The trade was a 39.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 79,000 shares of company stock valued at $499,665. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Fluence Energy by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after purchasing an additional 110,256 shares during the last quarter. Zimmer Partners LP raised its holdings in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after buying an additional 1,894,301 shares during the last quarter. Clearbridge Investments LLC boosted its position in Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after buying an additional 296,325 shares during the period. Point72 Asset Management L.P. grew its holdings in Fluence Energy by 63.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company’s stock worth $24,940,000 after acquiring an additional 610,229 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Fluence Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock valued at $24,035,000 after acquiring an additional 5,216 shares during the period. Institutional investors own 53.16% of the company’s stock.

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.