Fluence Energy (NASDAQ:FLNC) Price Target Cut to $2.00 by Analysts at Guggenheim

Fluence Energy (NASDAQ:FLNC) had its target price reduced by Guggenheim from $6.00 to $2.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Guggenheim currently has a sell rating on the stock.

FLNC has been the subject of a number of other reports. BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $22.00 to $10.00 in a report on Tuesday, February 11th. Bank of America cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $8.00 in a report on Thursday, February 13th. Roth Capital lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Truist Financial cut their target price on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group decreased their price target 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. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.62.

Fluence Energy Trading Down 9.6 %

Shares of NASDAQ:FLNC opened at $3.67 on Tuesday. Fluence Energy has a 52-week low of $3.63 and a 52-week 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 company has a market cap of $666.28 million, a P/E ratio of -73.40 and a beta of 2.48. The stock’s 50-day moving average is $5.66 and its 200-day moving average is $13.84.

Fluence Energy (NASDAQ:FLNC) last issued 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 negative return on equity of 0.36% and a negative net margin of 0.08%. Equities research analysts predict that Fluence Energy will post 0.08 earnings per share for the current year.

Insider Transactions at Fluence Energy

In related news, CFO Ahmed Pasha bought 15,500 shares of the company’s stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $6.48 per share, with a total value of $100,440.00. Following the completion of the purchase, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. The trade was a 168.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herman E. Bulls bought 30,000 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the transaction, the director now directly owns 105,861 shares of the company’s stock, valued at $691,272.33. This represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 79,000 shares of company stock worth $499,665. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of Fluence Energy by 101.7% in the 1st quarter. SG Americas Securities LLC now owns 98,621 shares of the company’s stock valued at $478,000 after buying an additional 49,738 shares during the period. Pallas Capital Advisors LLC bought a new position in Fluence Energy in the first quarter valued at about $89,000. City Center Advisors LLC acquired a new stake in Fluence Energy in the first quarter worth about $121,000. Alpha Wealth Funds LLC bought a new stake in Fluence Energy during the 1st quarter worth about $63,000. Finally, Wellington Management Group LLP lifted its position in Fluence Energy by 29.4% during the 4th quarter. Wellington Management Group LLP now owns 755,718 shares of the company’s stock valued at $12,001,000 after purchasing an additional 171,836 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.