Fluence Energy (NASDAQ:FLNC) Rating Lowered to “Neutral” at Bank of America

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

FLNC has been the topic of several other reports. Roth Mkm lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $6.50 in a research report on Wednesday. UBS Group downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $28.00 to $8.00 in a report on Wednesday. Piper Sandler dropped their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $22.00 to $10.00 in a research note on Tuesday. Finally, Canaccord Genuity Group lowered their target price on Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Fluence Energy presently has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Stock Performance

Fluence Energy stock opened at $6.53 on Thursday. The company has a market cap of $1.18 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. Fluence Energy has a one year low of $6.35 and a one year high of $26.12. The business has a fifty day moving average of $15.03 and a two-hundred day moving average of $18.07.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data 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 net margin of 0.89% and a return on equity of 4.10%. Sell-side analysts predict that Fluence Energy will post 0.48 EPS for the current year.

Insider Buying and Selling

In other news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC increased its position in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares in the last quarter. Blue Trust Inc. increased its holdings 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 purchasing an additional 1,502 shares in the last quarter. International Assets Investment Management LLC raised its position in Fluence Energy by 2,170.9% in the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after purchasing an additional 10,312 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Fluence Energy during the third quarter worth about $1,375,000. Finally, US Bancorp DE boosted its position in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. 53.16% of the stock is 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.