Bank of America Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its target price cut by Bank of America from $25.00 to $20.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on FLNC. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research report on Friday, November 8th. BMO Capital Markets raised their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Finally, Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.60.

Fluence Energy Price Performance

Shares of NASDAQ FLNC opened at $13.82 on Tuesday. The business has a 50-day moving average of $16.50 and a two-hundred day moving average of $18.37. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 106.31, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42. Fluence Energy has a 1 year low of $12.43 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm’s revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. As a group, equities research analysts expect that Fluence Energy will post 0.55 earnings per share for the current year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLNC. Mezzasalma Advisors LLC purchased a new stake in shares of Fluence Energy during the 4th quarter worth approximately $221,000. Cidel Asset Management Inc. acquired a new position in Fluence Energy during the fourth quarter worth $350,000. Canal Insurance CO boosted its position in Fluence Energy by 15.0% during the fourth quarter. Canal Insurance CO now owns 300,000 shares of the company’s stock worth $4,764,000 after purchasing an additional 39,200 shares in the last quarter. KBC Group NV grew its holdings in Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Fluence Energy in the fourth quarter valued at $340,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.