Barclays Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $22.00

Fluence Energy (NASDAQ:FLNC) had its target price cut by Barclays from $28.00 to $22.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also weighed in on the company. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Robert W. Baird reaffirmed 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. Susquehanna upped their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Truist Financial raised their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, BNP Paribas raised 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 report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.80.

Fluence Energy Stock Up 3.2 %

Shares of FLNC opened at $14.19 on Wednesday. The stock has a market cap of $2.57 billion, a P/E ratio of 109.15, a P/E/G ratio of 0.44 and a beta of 2.42. The business’s fifty day moving average is $17.11 and its 200 day moving average is $18.50. Fluence Energy has a 12-month low of $12.74 and a 12-month high of $26.12.

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

Insider Buying and Selling

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by insiders.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in FLNC. Handelsbanken Fonder AB grew its holdings in Fluence Energy by 47.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after buying an additional 2,047,063 shares in the last quarter. FMR LLC boosted its position in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares during the period. Geode Capital Management LLC grew its stake in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after acquiring an additional 60,633 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after acquiring an additional 23,927 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Fluence Energy in the 3rd quarter worth approximately $22,059,000. 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.