Wall Street Zen downgraded shares of Fluence Energy (NASDAQ:FLNC – Free Report) from a sell rating to a strong sell rating in a report published on Saturday,Wall Street Zen reports.
Other equities research analysts have also recently issued reports about the company. Robert W. Baird reissued an “underperform” rating and set a $3.00 price objective (down from $10.00) on shares of Fluence Energy in a research note on Thursday, September 17th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and lowered their price objective for the company from $19.00 to $7.00 in a research note on Friday. BNP Paribas Exane dropped their target price on Fluence Energy from $8.00 to $5.00 and set an “underperform” rating for the company in a report on Thursday, September 17th. Canaccord Genuity Group cut their target price on Fluence Energy from $24.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Finally, Roth Capital set a $18.00 price target on Fluence Energy in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $12.42.
Check Out Our Latest Stock Analysis on Fluence Energy
Fluence Energy Price Performance
Fluence Energy (NASDAQ:FLNC – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. The business had revenue of $649.85 million during the quarter, compared to the consensus estimate of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 earnings per share. Analysts anticipate that Fluence Energy will post -1.03 earnings per share for the current fiscal year.
Institutional Trading of Fluence Energy
Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of Fluence Energy by 24.4% during the first quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock valued at $42,460,000 after buying an additional 604,983 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Fluence Energy during the 1st quarter worth approximately $19,579,000. First Trust Advisors LP lifted its stake in shares of Fluence Energy by 55.4% during the 1st quarter. First Trust Advisors LP now owns 1,131,468 shares of the company’s stock worth $15,569,000 after acquiring an additional 403,199 shares during the last quarter. Legal & General Group Plc boosted its holdings in Fluence Energy by 882.1% during 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. Finally, Squarepoint Ops LLC boosted its holdings in Fluence Energy by 0.6% during the 2nd quarter. Squarepoint Ops LLC now owns 268,318 shares of the company’s stock valued at $5,334,000 after acquiring an additional 1,707 shares during the period. Institutional investors own 53.16% of the company’s stock.
Fluence Energy Company Profile
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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