The Goldman Sachs Group Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $8.00

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by investment analysts at The Goldman Sachs Group from $9.00 to $8.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 74.29% from the company’s previous close.

FLNC has been the topic of several other research reports. Morgan Stanley set a $4.00 target price on shares of Fluence Energy in a report on Wednesday, April 23rd. Piper Sandler cut their price objective on Fluence Energy from $10.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Barclays reissued an “equal weight” rating and issued a $5.00 target price (down previously from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. JPMorgan Chase & Co. downgraded Fluence Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, Susquehanna lowered their price objective on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.41.

Fluence Energy Stock Down 4.8 %

Fluence Energy stock opened at $4.59 on Friday. The firm has a market cap of $833.31 million, a price-to-earnings ratio of -91.80 and a beta of 2.49. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy has a 12 month low of $3.46 and a 12 month high of $26.12. The stock has a fifty day simple moving average of $4.59 and a two-hundred day simple moving average of $11.69.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The business had revenue of $431.62 million during the quarter, compared to analysts’ expectations of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. Fluence Energy’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS. Equities analysts predict that Fluence Energy will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other news, CFO Ahmed Pasha acquired 15,500 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the transaction, the chief financial officer now directly owns 24,703 shares in the company, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, the director now directly owns 115,861 shares of the company’s stock, valued at $626,808.01. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 79,000 shares of company stock worth $499,665. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. CenterBook Partners LP bought a new position in Fluence Energy during the first quarter valued at $12,458,000. Westwood Holdings Group Inc. lifted its holdings in shares of Fluence Energy by 46.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 85,228 shares of the company’s stock valued at $413,000 after acquiring an additional 27,012 shares during the last quarter. Credit Capital Investments LLC grew its position in Fluence Energy by 42.9% in the first quarter. Credit Capital Investments LLC now owns 50,000 shares of the company’s stock worth $242,000 after acquiring an additional 15,000 shares in the last quarter. Moors & Cabot Inc. increased its stake in Fluence Energy by 7.0% during the first quarter. Moors & Cabot Inc. now owns 56,250 shares of the company’s stock worth $273,000 after acquiring an additional 3,675 shares during the last quarter. Finally, XTX Topco Ltd raised its position in Fluence Energy by 454.9% during the first quarter. XTX Topco Ltd now owns 320,399 shares of the company’s stock valued at $1,554,000 after purchasing an additional 262,657 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.