Bank of America Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $20.00

Fluence Energy (NASDAQ:FLNCGet Free Report) had its target price lowered by equities researchers at Bank of America from $25.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 50.94% from the stock’s previous close.

FLNC has been the subject of a number of other research reports. Barclays lowered their target price on shares of Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, January 22nd. Guggenheim reissued a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a report on Friday, December 6th. Royal Bank of Canada decreased their price target on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Get Our Latest Report on FLNC

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $13.25 on Tuesday. The firm has a market cap of $2.40 billion, a P/E ratio of 101.92, a P/E/G ratio of 0.44 and a beta of 2.42. The firm has a 50 day simple moving average of $16.65 and a 200 day simple moving average of $18.41. Fluence Energy has a fifty-two week low of $12.43 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNCGet Free Report) last released its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.02 EPS. The business’s quarterly revenue was up 82.5% compared to the same quarter last year. On average, sell-side analysts expect that Fluence Energy will post 0.55 EPS for the current year.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in FLNC. Handelsbanken Fonder AB lifted its holdings in shares of Fluence Energy by 47.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after acquiring an additional 2,047,063 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $21,809,000. Principal Financial Group Inc. bought a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $5,742,000. Finally, Zimmer Partners LP bought a new position in Fluence Energy in the 3rd quarter valued at approximately $5,678,000. Institutional investors own 53.16% of the company’s stock.

About Fluence Energy

(Get Free Report)

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.

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