Fluence Energy (NASDAQ:FLNC) Price Target Cut to $8.00 by Analysts at Morgan Stanley

Fluence Energy (NASDAQ:FLNC) had its price target lowered by analysts at Morgan Stanley from $20.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 14.29% from the company’s current price.

Several other brokerages have also commented on FLNC. Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Roth Mkm cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $6.50 in a research note on Wednesday. Barclays cut their price target on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, Piper Sandler boosted their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.83.

Fluence Energy Price Performance

NASDAQ FLNC opened at $7.00 on Wednesday. Fluence Energy has a 1 year low of $6.56 and a 1 year high of $26.12. The company has a market capitalization of $1.27 billion, a PE ratio of 53.85, a P/E/G ratio of 0.49 and a beta of 2.37. The company has a fifty day moving average of $15.47 and a 200 day moving average of $18.22.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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%. Research analysts expect that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its holdings in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the last quarter. CWM LLC raised its position in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Fluence Energy in the 3rd quarter valued at $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Fluence Energy during the 4th quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy during the 3rd quarter worth about $87,000. Institutional investors and hedge funds 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.