Fluence Energy (NASDAQ:FLNC) Cut to “Market Perform” at BMO Capital Markets

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

FLNC has been the topic of a number of other research reports. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Guggenheim cut shares of Fluence Energy from a “buy” rating to a “sell” rating and reduced their price target for the company from $26.00 to $6.00 in a research report on Tuesday. Finally, Barclays reduced their price target on shares of Fluence Energy from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.15.

Fluence Energy Stock Performance

Fluence Energy stock opened at $7.00 on Tuesday. The stock has a market cap of $1.27 billion, a P/E ratio of 53.85, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The firm’s fifty day moving average price is $15.47 and its 200-day moving average price is $18.22. Fluence Energy has a fifty-two week low of $6.56 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, February 10th. The company reported ($0.32) EPS 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%. On average, analysts predict that Fluence Energy will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors have recently made changes to their positions in FLNC. The Manufacturers Life Insurance Company lifted its holdings in Fluence Energy by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock valued at $617,000 after buying an additional 2,389 shares in the last quarter. CWM LLC lifted its holdings in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. Renaissance Capital LLC lifted its holdings in Fluence Energy by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock valued at $1,480,000 after buying an additional 10,881 shares in the last quarter. Blue Trust Inc. lifted its holdings in Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Fluence Energy by 2,170.9% during the 3rd quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after buying an additional 10,312 shares in the last quarter. 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.