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

Fluence Energy (NASDAQ:FLNC) had its price target dropped by analysts at Barclays from $22.00 to $9.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 45.63% from the company’s previous close.

A number of other research analysts also recently commented on FLNC. Truist Financial increased their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $25.00 to $7.00 in a research report on Wednesday. Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and dropped their target price for the stock from $26.00 to $6.00 in a report on Tuesday. Canaccord Genuity Group cut their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Robert W. Baird restated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $6.18 on Wednesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37. The firm has a fifty day moving average price of $15.03 and a 200 day moving average price of $18.07. Fluence Energy has a fifty-two week low of $6.05 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data 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 net margin of 0.89% and a return on equity of 4.10%. As a group, research analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, for a total transaction 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 approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in Fluence Energy in the fourth quarter valued at approximately $34,000. US Bancorp DE lifted its position in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares in the last quarter. CWM LLC lifted its position in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $74,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in Fluence Energy in the 4th quarter worth $79,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

About Fluence Energy

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.