Fluence Energy (NASDAQ:FLNC) Downgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets downgraded shares of Fluence Energy (NASDAQ:FLNC) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has $10.00 price target on the stock, down from their previous price target of $22.00.

Several other equities research analysts have also commented on the stock. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research note on Friday, November 8th. Truist Financial increased their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Guggenheim lowered shares of Fluence Energy from a “buy” rating to a “sell” rating and decreased their price objective for the company from $26.00 to $6.00 in a research note on Tuesday. Susquehanna increased their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.15.

Fluence Energy Price Performance

FLNC opened at $7.00 on Tuesday. Fluence Energy has a fifty-two week low of $6.56 and a fifty-two week high of $26.12. The firm 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’s 50-day moving average is $15.47 and its 200 day moving average is $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 analysts’ consensus estimates 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, analysts expect 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 stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by insiders.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. lifted its stake in Fluence Energy by 11.4% in the 4th quarter. Prudential Financial Inc. now owns 241,925 shares of the company’s stock worth $3,842,000 after purchasing an additional 24,800 shares in the last quarter. Vanguard Group Inc. lifted its stake in Fluence Energy by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after purchasing an additional 110,256 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Fluence Energy in the 4th quarter worth approximately $273,000. KLP Kapitalforvaltning AS purchased a new stake in Fluence Energy in the 4th quarter worth approximately $213,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Fluence Energy during the 4th quarter valued at $176,000. 53.16% of the stock is currently 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.