Fluence Energy (NASDAQ:FLNC) Cut to Sector Perform at Royal Bank of Canada

Fluence Energy (NASDAQ:FLNC) was downgraded by equities researchers at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $7.00 target price on the stock, down from their prior target price of $25.00.

Other equities research analysts have also recently issued reports about the stock. Guggenheim cut shares of Fluence Energy from a “buy” rating to a “sell” rating and reduced their price target for the company from $26.00 to $6.00 in a research report on Tuesday. Wolfe Research cut shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. 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 research report on Friday, November 29th. Barclays reduced their price target on shares of Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Finally, Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.50.

Fluence Energy Trading Down 46.4 %

Fluence Energy stock opened at $7.00 on Wednesday. The stock has a market cap of $1.27 billion, a P/E ratio of 53.85, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The company has a fifty day simple moving average of $15.47 and a 200-day simple moving average of $18.22. Fluence Energy has a 12-month low of $6.56 and a 12-month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. As a group, sell-side analysts forecast that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently modified their holdings of FLNC. US Bancorp DE lifted its stake in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the period. CWM LLC lifted its stake in shares of Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Fluence Energy during the fourth quarter valued at approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $87,000. Hedge funds and other 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.