Piper Sandler Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by analysts at Piper Sandler from $10.00 to $4.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 7.82% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Mizuho initiated coverage on shares of Fluence Energy in a research report on Wednesday, March 5th. They set an “outperform” rating and a $8.00 target price on the stock. Citigroup decreased their price objective on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered Fluence Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $8.00 in a research note on Thursday, February 13th. Finally, Morgan Stanley cut their price objective on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Fluence Energy presently has a consensus rating of “Hold” and a consensus target price of $11.14.

Fluence Energy Price Performance

FLNC stock opened at $3.71 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The stock’s 50 day moving average price is $5.12 and its 200 day moving average price is $13.20. The firm has a market cap of $673.55 million, a P/E ratio of -74.20 and a beta of 2.48. Fluence Energy has a 1 year low of $3.46 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. On average, sell-side analysts expect that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other Fluence Energy news, CFO Ahmed Pasha bought 15,500 shares of Fluence Energy stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the purchase, the chief financial officer now owns 24,703 shares in the company, valued at $160,075.44. This represents a 168.42 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. The trade was a 9.45 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 79,000 shares of company stock worth $499,665. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLNC. Altshuler Shaham Ltd bought a new position in shares of Fluence Energy during the fourth quarter worth about $34,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $79,000. Tower Research Capital LLC TRC increased its holdings in shares of Fluence Energy by 827.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock valued at $88,000 after acquiring an additional 4,921 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at approximately $175,000. Finally, Blueshift Asset Management LLC bought a new position in Fluence Energy during the fourth quarter worth $176,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Company Profile

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.