Morgan Stanley Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price target dropped by investment analysts at Morgan Stanley from $20.00 to $8.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 14.29% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Wolfe Research lowered shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Canaccord Genuity Group reduced their price objective on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $25.00 to $7.00 in a research note on Wednesday. BMO Capital Markets lowered 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 research report on Tuesday. Finally, Citigroup lowered their price objective on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.83.

Fluence Energy Stock Down 46.4 %

FLNC opened at $7.00 on Wednesday. Fluence Energy has a 52 week low of $6.56 and a 52 week high of $26.12. The business has a fifty day simple moving average of $15.47 and a 200-day simple moving average of $18.22. The firm has a market cap of $1.27 billion, a P/E ratio of 53.85, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) EPS 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%. Sell-side analysts expect 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 acquired 10,000 shares of the company’s stock in a transaction on 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 purchase, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted 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 period. CWM LLC lifted its holdings in shares of 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 period. Point72 DIFC Ltd purchased a new position in Fluence Energy in the 3rd quarter valued at $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Fluence Energy in the 4th quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Fluence Energy during the 3rd quarter worth $87,000. 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.