Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $13.00 at The Goldman Sachs Group

Fluence Energy (NASDAQ:FLNC) had its target price cut by The Goldman Sachs Group from $26.00 to $13.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on FLNC. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Roth Mkm lowered Fluence Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $6.50 in a report on Wednesday. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a report on Friday, November 8th. Barclays decreased their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Stock Up 4.0 %

NASDAQ:FLNC opened at $6.43 on Wednesday. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 49.46, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. Fluence Energy has a twelve month low of $6.05 and a twelve month high of $26.12. The stock’s 50 day moving average price is $14.60 and its two-hundred day moving average price is $17.92.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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%. As a group, analysts anticipate that Fluence Energy will post 0.48 earnings per share for the current year.

Insider Activity

In related news, Director Herman E. Bulls bought 30,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the transaction, the director now owns 105,861 shares in the company, valued at $691,272.33. The trade was a 39.55 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

A number of institutional investors have recently modified their holdings of the stock. Duff & Phelps Investment Management Co. lifted its position in shares of Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after buying an additional 1,432 shares during the last quarter. US Bancorp DE lifted its position in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the last quarter. Lazard Freres Gestion S.A.S. lifted its position in shares of Fluence Energy by 7.3% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after buying an additional 1,500 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after buying an additional 1,502 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after buying an additional 1,671 shares during the last quarter. 53.16% of the stock is currently owned by 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.