Fluence Energy (NASDAQ:FLNC) Downgraded by Jefferies Financial Group to “Hold”

Fluence Energy (NASDAQ:FLNC) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat Ratings reports. They presently have a $15.00 price target on the stock, down from their previous price target of $22.00. Jefferies Financial Group’s price objective points to a potential upside of 4.09% from the company’s current price.

FLNC has been the subject of several other research reports. Bank of America decreased their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. BMO Capital Markets increased their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Guggenheim reaffirmed a “buy” rating and set a $26.00 target price on shares of Fluence Energy in a research report on Friday, December 6th. Canaccord Genuity Group reduced their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, Citigroup lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.80.

Fluence Energy Stock Down 0.2 %

NASDAQ:FLNC opened at $14.41 on Wednesday. The company’s 50 day moving average is $17.62 and its 200-day moving average is $18.60. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $26.12. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 110.85, a P/E/G ratio of 0.47 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last announced 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.02 EPS. The business’s quarterly revenue was up 82.5% on a year-over-year basis. Research analysts predict that Fluence Energy will post 0.55 EPS for the current fiscal year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after purchasing an additional 21,597 shares during the last quarter. Mandatum Life Insurance Co Ltd bought a new position in Fluence Energy in the 4th quarter valued at $2,617,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Fluence Energy in the 4th quarter valued at $79,000. Sanders Morris Harris LLC bought a new stake in shares of Fluence Energy during the fourth quarter worth $812,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Fluence Energy by 73.7% during the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after acquiring an additional 227,549 shares during the period. Institutional investors 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.