Fluence Energy (NASDAQ:FLNC – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.
FLNC has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of Fluence Energy from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Citigroup upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $26.00 to $24.00 in a report on Wednesday, July 22nd. UBS Group lifted their price target on shares of Fluence Energy from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Truist Financial assumed coverage on shares of Fluence Energy in a report on Monday, July 13th. They set a “hold” rating and a $16.00 price target on the stock. Finally, Glj Research started coverage on shares of Fluence Energy in a research report on Wednesday, July 1st. They issued a “buy” rating and a $26.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.79.
Check Out Our Latest Stock Report on FLNC
Fluence Energy Price Performance
Fluence Energy (NASDAQ:FLNC – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The company had revenue of $649.85 million for the quarter, compared to analysts’ expectations of $818.57 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Fluence Energy will post -0.35 EPS for the current year.
Insider Activity at Fluence Energy
In related news, Director Heynitz Harald Von sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director owned 58,550 shares in the company, valued at approximately $1,463,750. The trade was a 7.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Zahurancik sold 15,974 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $22.03, for a total value of $351,907.22. Following the completion of the transaction, the senior vice president directly owned 71,171 shares in the company, valued at approximately $1,567,897.13. This trade represents a 18.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,974 shares of company stock valued at $879,787 in the last ninety days. Insiders own 0.69% of the company’s stock.
Hedge Funds Weigh In On Fluence Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in FLNC. Legal & General Group Plc increased its holdings in shares of Fluence Energy by 882.1% in the 4th quarter. Legal & General Group Plc now owns 738,898 shares of the company’s stock valued at $14,615,000 after acquiring an additional 663,660 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of Fluence Energy by 194.3% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 177,037 shares of the company’s stock worth $2,436,000 after purchasing an additional 116,882 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Fluence Energy by 493.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 445,350 shares of the company’s stock worth $8,809,000 after purchasing an additional 370,350 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Fluence Energy during the first quarter valued at about $19,579,000. Finally, UBS Group AG boosted its position in Fluence Energy by 65.2% during the fourth quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock valued at $51,940,000 after purchasing an additional 1,036,423 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.
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.
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