Mizuho Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $8.00

Fluence Energy (NASDAQ:FLNCFree Report) had its price objective trimmed by Mizuho from $15.00 to $8.00 in a research report released on Friday,Benzinga reports. The firm currently has an underperform rating on the stock.

Several other research analysts also recently issued reports on FLNC. Zacks Research downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Truist Financial initiated coverage on Fluence Energy in a research report on Monday, July 13th. They set a “hold” rating and a $16.00 price objective on the stock. Royal Bank Of Canada lowered their target price on Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, August 7th. Canaccord Genuity Group set a $24.00 target price on Fluence Energy in a research report on Friday, August 7th. Finally, Barclays lowered Fluence Energy from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $16.00 to $10.00 in a research note on Thursday, September 3rd. Six research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.89.

Get Our Latest Analysis on Fluence Energy

Fluence Energy Price Performance

Shares of NASDAQ FLNC opened at $9.93 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -16.28 and a beta of 2.74. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. Fluence Energy has a 12 month low of $6.79 and a 12 month high of $33.51. The stock has a 50-day moving average price of $12.97 and a two-hundred day moving average price of $16.18.

Fluence Energy (NASDAQ:FLNCGet Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. The company had revenue of $649.85 million for the quarter, compared to the consensus estimate of $818.57 million. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. As a group, analysts forecast that Fluence Energy will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other news, SVP John Zahurancik sold 15,974 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.69% of the company’s stock.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Fluence Energy by 31.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock worth $38,000 after purchasing an additional 672 shares during the period. Sei Investments Co. raised its holdings in shares of Fluence Energy by 4.5% during the first quarter. Sei Investments Co. now owns 16,222 shares of the company’s stock valued at $223,000 after purchasing an additional 703 shares during the period. IFP Advisors Inc raised its holdings in shares of Fluence Energy by 184.1% during the second quarter. IFP Advisors Inc now owns 1,540 shares of the company’s stock valued at $31,000 after purchasing an additional 998 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Fluence Energy by 1.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,185 shares of the company’s stock valued at $1,082,000 after buying an additional 1,082 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Fluence Energy by 5.8% in the fourth quarter. New York State Common Retirement Fund now owns 20,095 shares of the company’s stock valued at $397,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

About Fluence Energy

(Get Free Report)

Fluence Energy, Inc is a global energy storage and software company that develops solutions to support the transition to cleaner and more reliable electricity systems. The company provides products and services for utilities, renewable energy developers, commercial and industrial customers, and other power market participants.

Its offerings include large-scale battery energy storage systems, renewable energy integration solutions, and digital applications for managing and optimizing energy assets.

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Analyst Recommendations for Fluence Energy (NASDAQ:FLNC)

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