Fluence Energy (NASDAQ:FLNC) Downgraded to Hold Rating by Jefferies Financial Group

Fluence Energy (NASDAQ:FLNC) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $15.00 target price on the stock, down from their previous target price of $22.00. Jefferies Financial Group’s target price points to a potential upside of 4.09% from the stock’s current price.

Several other equities analysts have also issued reports on FLNC. Piper Sandler upped their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. BMO Capital Markets increased their target price on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Susquehanna raised their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Finally, Guggenheim reiterated a “buy” rating and set a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.80.

Fluence Energy Stock Down 0.2 %

Shares of Fluence Energy stock opened at $14.41 on Wednesday. The business has a fifty day simple moving average of $17.62 and a 200 day simple moving average of $18.60. The stock has a market cap of $2.61 billion, a PE ratio of 110.85, a price-to-earnings-growth ratio of 0.47 and a beta of 2.42. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Fluence Energy’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. Analysts expect that Fluence Energy will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently modified their holdings of FLNC. Hsbc Holdings PLC boosted its holdings in Fluence Energy by 3.8% in the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after purchasing an additional 897 shares during the period. US Bancorp DE boosted its stake in shares of Fluence Energy by 676.6% in the third 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 during the period. Blue Trust Inc. grew its position in Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after buying an additional 1,502 shares in the last quarter. CWM LLC increased its stake in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Fluence Energy by 17.0% in the 2nd quarter. ProShare Advisors LLC now owns 12,328 shares of the company’s stock valued at $214,000 after acquiring an additional 1,789 shares in the last quarter. 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.