Bank of America Downgrades Fluence Energy (NASDAQ:FLNC) to Neutral

Fluence Energy (NASDAQ:FLNC) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday,Briefing.com Automated Import reports. They presently have a $8.00 price objective on the stock, down from their prior price objective of $20.00. Bank of America‘s price objective points to a potential upside of 22.51% from the company’s current price.

A number of other analysts also recently weighed in on FLNC. Morgan Stanley decreased their price target on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday. Robert W. Baird reissued a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Roth Mkm lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $6.50 in a research note on Wednesday. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a research note on Friday, November 8th. Finally, Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Price Performance

Shares of FLNC stock opened at $6.53 on Thursday. The company’s fifty day moving average price is $15.03 and its two-hundred day moving average price is $18.07. The firm has a market capitalization of $1.18 billion, a P/E ratio of 50.23, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a 12 month low of $6.35 and a 12 month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly 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, sell-side analysts anticipate that Fluence Energy will post 0.48 EPS for the current year.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were 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 in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by insiders.

Institutional Trading of Fluence Energy

Several large investors have recently added to or reduced their stakes in FLNC. Duff & Phelps Investment Management Co. boosted its position in Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after acquiring an additional 1,432 shares during the period. US Bancorp DE raised its stake in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares in the last quarter. Lazard Freres Gestion S.A.S. lifted its holdings in Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after purchasing an additional 1,500 shares during the period. Blue Trust Inc. grew its position in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares in the last quarter. Finally, KBC Group NV increased its stake in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after buying an additional 1,671 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.