Citigroup Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by stock analysts at Citigroup from $24.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 53.14% from the stock’s previous close.

Several other equities analysts have also issued reports on FLNC. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Truist Financial upped their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Canaccord Genuity Group lowered their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Bank of America lowered their target price on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $15.21.

Fluence Energy Stock Down 6.7 %

Shares of NASDAQ FLNC opened at $6.53 on Tuesday. Fluence Energy has a 12-month low of $6.35 and a 12-month high of $26.12. The firm’s 50-day simple moving average is $15.03 and its 200 day simple moving average is $18.07. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. On average, equities analysts expect that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity

In other news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its position 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 acquiring an additional 1,475 shares during the last quarter. CWM LLC boosted its holdings in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Fluence Energy during the third quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy in the fourth quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy in the 3rd quarter valued at $87,000. Institutional investors and hedge funds 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.