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

Fluence Energy (NASDAQ:FLNC) had its price target trimmed by Citigroup from $24.00 to $10.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

FLNC has been the topic of several other reports. Susquehanna boosted their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Piper Sandler raised their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and dropped their price target for the company from $26.00 to $6.00 in a report on Tuesday. Finally, Bank of America cut their price objective on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Price Performance

NASDAQ FLNC opened at $6.18 on Tuesday. The firm has a market capitalization of $1.12 billion, a PE ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 12 month low of $6.05 and a 12 month high of $26.12. The company’s 50 day simple moving average is $15.03 and its 200 day simple moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (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%. Sell-side analysts anticipate that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The stock was purchased 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 directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently bought and sold shares of the business. Canada Pension Plan Investment Board acquired a new stake in shares of Fluence Energy in the fourth quarter worth about $1,469,000. Altshuler Shaham Ltd bought a new position in shares of Fluence Energy in the 4th quarter valued at approximately $34,000. Marshall Wace LLP lifted its holdings in Fluence Energy by 22.9% in the 4th quarter. Marshall Wace LLP now owns 40,688 shares of the company’s stock worth $646,000 after purchasing an additional 7,588 shares during the last quarter. Jump Financial LLC boosted its position in Fluence Energy by 459.3% during the fourth quarter. Jump Financial LLC now owns 267,616 shares of the company’s stock worth $4,250,000 after purchasing an additional 219,770 shares during the period. Finally, XTX Topco Ltd grew its holdings in Fluence Energy by 58.9% during the fourth quarter. XTX Topco Ltd now owns 57,742 shares of the company’s stock valued at $917,000 after purchasing an additional 21,401 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

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.