Fluence Energy (NASDAQ:FLNC) Downgraded by Royal Bank of Canada to “Sector Perform”

Fluence Energy (NASDAQ:FLNC) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. They presently have a $7.00 target price on the stock, down from their previous target price of $25.00.

Other equities research analysts have also issued research reports about the stock. Roth Mkm lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $6.50 in a research report on Wednesday. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a report on Friday, November 8th. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group lowered their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy has a consensus rating of “Hold” and a consensus target price of $20.50.

Fluence Energy Stock Down 46.4 %

NASDAQ:FLNC opened at $7.00 on Wednesday. The company has a market cap of $1.27 billion, a P/E ratio of 53.85, a P/E/G ratio of 0.49 and a beta of 2.37. Fluence Energy has a fifty-two week low of $6.56 and a fifty-two week high of $26.12. The firm’s 50 day moving average is $15.47 and its two-hundred day moving average is $18.22.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Research analysts forecast that Fluence Energy will post 0.48 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost 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 $1,181,155.77. This trade represents a 15.18 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently bought and sold shares of the stock. US Bancorp DE increased its stake in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the period. Lazard Freres Gestion S.A.S. grew its stake in shares of Fluence Energy by 7.3% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after purchasing an additional 1,500 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares during the last quarter. KBC Group NV grew its stake in shares of Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after purchasing an additional 1,671 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.