Fluence Energy (NASDAQ:FLNC) Lowered to Underperform Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Fluence Energy (NASDAQ:FLNC) from a hold rating to an underperform rating in a report issued on Thursday, Marketbeat reports. Jefferies Financial Group currently has $3.00 target price on the stock, down from their previous target price of $4.00.

Several other equities analysts have also recently commented on FLNC. Truist Financial reduced their target price on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Roth Capital downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Bank of America cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Mizuho started coverage on Fluence Energy in a research report on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, JPMorgan Chase & Co. lowered Fluence Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $14.00 to $7.00 in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.17.

Fluence Energy Price Performance

FLNC opened at $5.37 on Thursday. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $26.12. The company has a 50 day moving average of $4.60 and a two-hundred day moving average of $11.33. The company has a market cap of $974.92 million, a P/E ratio of -107.40 and a beta of 2.49. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The company had revenue of $431.62 million during the quarter, compared to analysts’ expectations of $328.17 million. During the same quarter in the prior year, the company earned ($0.07) EPS. The firm’s revenue was down 30.7% compared to the same quarter last year. On average, analysts expect that Fluence Energy will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the transaction, the director now directly owns 115,861 shares of the company’s stock, valued at $626,808.01. This trade represents a 9.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction on Monday, May 12th. The stock was purchased at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director now owns 86,202 shares of the company’s stock, valued at approximately $508,591.80. This represents a 62.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several hedge funds have recently modified their holdings of FLNC. Barclays PLC grew its position in Fluence Energy by 296.8% during the 3rd quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after acquiring an additional 135,957 shares during the last quarter. Franklin Resources Inc. raised its position in Fluence Energy by 11.8% in the 3rd quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after purchasing an additional 17,551 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in Fluence Energy in the fourth quarter worth $812,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Fluence Energy during the fourth quarter worth $79,000. Finally, Mandatum Life Insurance Co Ltd acquired a new stake in shares of Fluence Energy in the fourth quarter valued at $2,617,000. 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.