Fluence Energy (NASDAQ:FLNC) Stock Rating Lowered by Citigroup

Fluence Energy (NASDAQ:FLNC) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They presently have a $24.00 target price on the stock, down from their prior target price of $32.00. Citigroup’s target price would indicate a potential upside of 9.84% from the stock’s current price.

A number of other equities analysts have also recently issued reports on FLNC. Truist Financial began coverage on Fluence Energy in a report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 target price for the company. Guggenheim raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, August 9th. Bank of America lowered their target price on Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Royal Bank of Canada raised Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Fluence Energy presently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

Fluence Energy Stock Performance

Fluence Energy stock opened at $21.85 on Tuesday. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $27.80. The stock has a fifty day moving average of $18.54 and a 200-day moving average of $18.49. The stock has a market capitalization of $3.92 billion, a P/E ratio of -56.03, a price-to-earnings-growth ratio of 7.24 and a beta of 2.51.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the transaction, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. Norges Bank bought a new position in Fluence Energy in the fourth quarter worth approximately $13,931,000. Hsbc Holdings PLC bought a new position in Fluence Energy in the fourth quarter worth approximately $1,375,000. KBC Group NV bought a new position in Fluence Energy in the fourth quarter worth approximately $583,000. Clean Energy Transition LLP bought a new position in Fluence Energy in the fourth quarter worth approximately $32,124,000. Finally, Westwood Holdings Group Inc. bought a new position in Fluence Energy in the fourth quarter worth approximately $4,401,000. Institutional investors own 53.16% of the company’s stock.

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.