Fluence Energy (NASDAQ:FLNC) Downgraded to “Hold” Rating by Johnson Rice

Fluence Energy (NASDAQ:FLNC) was downgraded by investment analysts at Johnson Rice from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $18.00 target price on the stock. Johnson Rice’s price target indicates a potential downside of 18.49% from the stock’s current price.

A number of other brokerages have also weighed in on FLNC. Jefferies Financial Group upgraded Fluence Energy from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $11.00 to $16.00 in a research report on Wednesday, November 26th. Citigroup upped their price target on shares of Fluence Energy from $7.50 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Fluence Energy from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. BNP Paribas set a $9.00 price objective on shares of Fluence Energy and gave the stock an “underperform” rating in a report on Tuesday, October 21st. Finally, Canaccord Genuity Group upped their target price on shares of Fluence Energy from $10.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $12.93.

Fluence Energy Stock Down 7.8%

Shares of FLNC traded down $1.88 during midday trading on Monday, hitting $22.08. The company had a trading volume of 3,114,907 shares, compared to its average volume of 5,911,395. Fluence Energy has a 1 year low of $3.46 and a 1 year high of $24.79. The firm has a market capitalization of $4.04 billion, a P/E ratio of -52.71 and a beta of 2.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51. The company’s 50-day simple moving average is $17.76 and its 200-day simple moving average is $11.00.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. Fluence Energy’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Fluence Energy will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in shares of Fluence Energy by 152.4% during the 1st quarter. Invesco Ltd. now owns 925,011 shares of the company’s stock worth $4,486,000 after purchasing an additional 558,498 shares during the period. Nuveen LLC acquired a new position in shares of Fluence Energy in the first quarter worth about $942,000. HighTower Advisors LLC grew its stake in Fluence Energy by 32.8% during the 1st quarter. HighTower Advisors LLC now owns 24,949 shares of the company’s stock valued at $121,000 after purchasing an additional 6,157 shares in the last quarter. American Century Companies Inc. purchased a new stake in Fluence Energy during the 1st quarter worth approximately $376,000. Finally, Quantbot Technologies LP acquired a new position in shares of Fluence Energy in the 1st quarter valued at approximately $260,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

About Fluence Energy

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.