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

BMO Capital Markets downgraded shares of Fluence Energy (NASDAQ:FLNC) from an outperform rating to a market perform rating in a research note released on Tuesday morning, MarketBeat.com reports. BMO Capital Markets currently has $10.00 price objective on the stock, down from their previous price objective of $22.00.

Several other equities research analysts also recently commented on the company. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Canaccord Genuity Group dropped their target price on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Piper Sandler upped their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada decreased their target price on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Fluence Energy has a consensus rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Stock Down 5.4 %

Shares of FLNC stock opened at $6.18 on Tuesday. The stock has a fifty day moving average of $15.03 and a 200 day moving average of $18.07. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy has a 52 week low of $6.05 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released 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%. Equities research analysts anticipate that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Erste Asset Management GmbH purchased a new stake in shares of Fluence Energy during the 3rd quarter worth about $22,059,000. Point72 Asset Management L.P. acquired a new position in shares of Fluence Energy during the third quarter valued at approximately $21,809,000. Trexquant Investment LP lifted its position in shares of Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after acquiring an additional 747,103 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Fluence Energy by 19.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after purchasing an additional 296,325 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in Fluence Energy during the 4th quarter valued at about $4,288,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.