Fluence Energy (NASDAQ:FLNC) Cut to Sector Perform at Royal Bank of Canada

Fluence Energy (NASDAQ:FLNC) was downgraded by research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday, Marketbeat reports. They currently have a $7.00 target price on the stock, down from their prior target price of $25.00. Royal Bank of Canada’s target price indicates a potential upside of 13.27% from the stock’s previous close.

FLNC has been the topic of several other reports. Roth Mkm downgraded Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $6.50 in a research report on Wednesday. Citigroup dropped their price target on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial boosted their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird restated a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Finally, BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Price Performance

Fluence Energy stock opened at $6.18 on Wednesday. The stock’s 50 day moving average price is $15.03 and its 200 day moving average price is $18.07. Fluence Energy has a 1-year low of $6.05 and a 1-year high of $26.12. The company has a market cap of $1.12 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its 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 return on equity of 4.10% and a net margin of 0.89%. On average, equities research analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently bought and sold shares of FLNC. Altshuler Shaham Ltd bought a new position in Fluence Energy during the fourth quarter valued at about $34,000. US Bancorp DE grew its holdings 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 worth $38,000 after purchasing an additional 1,475 shares in the last quarter. CWM LLC increased its position 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 purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Fluence Energy in the third quarter valued at $74,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy in the fourth quarter worth $79,000. 53.16% of the stock is currently 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.