Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $20.00 at The Goldman Sachs Group

Fluence Energy (NASDAQ:FLNC) had its target price decreased by The Goldman Sachs Group from $28.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 32.81% from the stock’s current price.

FLNC has been the topic of a number of other research reports. Jefferies Financial Group set a $24.00 target price on shares of Fluence Energy in a research note on Monday, February 9th. Zacks Research cut shares of Fluence Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 7th. UBS Group reaffirmed a “neutral” rating on shares of Fluence Energy in a research note on Thursday, January 15th. Susquehanna reduced their price objective on Fluence Energy from $27.00 to $23.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. Finally, Barclays reduced their price objective on Fluence Energy from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.67.

Fluence Energy Price Performance

Shares of Fluence Energy stock traded up $0.26 during trading on Wednesday, reaching $15.06. 2,746,523 shares of the company’s stock were exchanged, compared to its average volume of 5,180,565. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.08 and a current ratio of 1.48. Fluence Energy has a 1-year low of $3.46 and a 1-year high of $33.51. The company has a market cap of $2.77 billion, a P/E ratio of -34.20 and a beta of 2.96. The firm’s 50-day moving average price is $16.09 and its 200 day moving average price is $18.95.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, February 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). Fluence Energy had a negative return on equity of 10.10% and a negative net margin of 2.04%.The business had revenue of $475.23 million for the quarter, compared to analyst estimates of $444.23 million. During the same period last year, the firm posted ($0.32) EPS. Fluence Energy’s quarterly revenue was up 154.4% on a year-over-year basis. As a group, research analysts anticipate that Fluence Energy will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In related news, Director Heynitz Harald Von sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the transaction, the director directly owned 63,550 shares of the company’s stock, valued at approximately $1,048,575. This represents a 13.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is currently owned by insiders.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently modified their holdings of FLNC. Dragoneer Investment Group LLC bought a new position in shares of Fluence Energy in the third quarter worth $65,883,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Fluence Energy by 5,489.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock worth $60,247,000 after acquiring an additional 2,991,292 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Fluence Energy by 189.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after acquiring an additional 2,076,668 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Fluence Energy in the third quarter worth $14,207,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fluence Energy in the third quarter worth $12,901,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.