The Goldman Sachs Group Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $13.00

Fluence Energy (NASDAQ:FLNC) had its price target reduced by The Goldman Sachs Group from $26.00 to $13.00 in a research note published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

FLNC has been the subject of a number of other reports. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada lowered Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $25.00 to $7.00 in a research report on Wednesday. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research report on Friday, November 8th. Citigroup lowered their price objective on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Morgan Stanley lowered their price objective on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $6.43 on Wednesday. Fluence Energy has a twelve month low of $6.05 and a twelve month high of $26.12. The firm has a market cap of $1.16 billion, a PE ratio of 49.46, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The business has a fifty day moving average of $14.60 and a 200-day moving average of $17.92.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. On average, analysts anticipate that Fluence Energy will post 0.48 EPS for the current fiscal year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls acquired 30,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the acquisition, the director now directly owns 105,861 shares of the company’s stock, valued at approximately $691,272.33. This trade represents a 39.55 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Fluence Energy in the 4th quarter valued at approximately $34,000. US Bancorp DE lifted its stake in Fluence Energy by 676.6% in the 3rd 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 in the last quarter. CWM LLC lifted its stake in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Fluence Energy in the 3rd quarter valued at approximately $74,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in Fluence Energy in the 4th quarter valued at approximately $79,000. 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.