Fluence Energy (NASDAQ:FLNC – Get Free Report) had its price target dropped by research analysts at Citigroup from $24.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 51.57% from the stock’s previous close.
Several other research firms have also recently issued reports on FLNC. Roth Capital set a $18.00 price target on Fluence Energy in a report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Fluence Energy in a research report on Wednesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $22.00 price target on shares of Fluence Energy in a research report on Thursday, May 7th. Morgan Stanley set a $15.00 price objective on shares of Fluence Energy in a report on Friday, August 7th. Finally, Royal Bank Of Canada decreased their price target on shares of Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.58.
Get Our Latest Stock Analysis on FLNC
Fluence Energy Stock Down 0.2%
Fluence Energy (NASDAQ:FLNC – Get Free Report) last posted its quarterly earnings data 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 business had revenue of $649.85 million during the quarter, compared to the consensus estimate of $818.57 million. During the same period in the prior year, the company posted $0.01 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Fluence Energy will post -0.35 EPS for the current year.
Insider Transactions at Fluence Energy
In related news, Director Heynitz Harald Von sold 5,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director owned 58,550 shares in the company, valued at approximately $1,463,750. This represents a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Zahurancik sold 15,974 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were 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 owned 71,171 shares of the company’s stock, valued at approximately $1,567,897.13. This represents a 18.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 36,974 shares of company stock worth $879,787. 0.69% of the stock is owned by company insiders.
Hedge Funds Weigh In On Fluence Energy
A number of institutional investors have recently bought and sold shares of FLNC. Legal & General Group Plc grew its holdings in 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 buying an additional 663,660 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Fluence Energy by 194.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 177,037 shares of the company’s stock worth $2,436,000 after buying an additional 116,882 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fluence Energy by 493.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 445,350 shares of the company’s stock valued at $8,809,000 after acquiring an additional 370,350 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Fluence Energy in the first quarter valued at about $19,579,000. Finally, UBS Group AG grew its stake in shares of Fluence Energy by 65.2% in the fourth quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock valued at $51,940,000 after acquiring an additional 1,036,423 shares in the last quarter. Institutional investors and hedge funds 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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