Fluence Energy (NASDAQ:FLNC) Given New $20.00 Price Target at Citigroup

Fluence Energy (NASDAQ:FLNC) had its price target lowered by Citigroup from $24.00 to $20.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on FLNC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fluence Energy in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $24.00 price target on shares of Fluence Energy in a research report on Friday, August 7th. Morgan Stanley set a $15.00 price objective on shares of Fluence Energy in a report on Friday, August 7th. Roth Capital set a $18.00 price objective on shares of Fluence Energy in a research report on Friday, August 7th. Finally, UBS Group lifted their target price on shares of Fluence Energy from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.58.

Fluence Energy Trading Down 0.6%

Shares of Fluence Energy stock opened at $13.14 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $17.30 and its 200-day simple moving average is $17.85. The stock has a market cap of $2.43 billion, a P/E ratio of -21.54 and a beta of 2.78. Fluence Energy has a 1-year low of $6.60 and a 1-year high of $33.51.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The company had revenue of $649.85 million during the quarter, compared to analyst estimates of $818.57 million. During the same period in the prior year, the business posted $0.01 EPS. Fluence Energy’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts predict that Fluence Energy will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP John Zahurancik sold 15,974 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $22.03, for a total value of $351,907.22. Following the transaction, the senior vice president owned 71,171 shares of the company’s stock, valued at $1,567,897.13. This represents a 18.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director owned 58,550 shares of the company’s stock, valued at approximately $1,463,750. This represents a 7.87% 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. Insiders sold 36,974 shares of company stock worth $879,787 in the last 90 days. Company insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after acquiring an additional 2,076,668 shares during the period. Bank of America Corp DE boosted its position in shares of Fluence Energy by 24.4% during the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock worth $42,460,000 after purchasing an additional 604,983 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Fluence Energy by 5,489.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock worth $60,247,000 after purchasing an additional 2,991,292 shares during the period. UBS Group AG increased its holdings in Fluence Energy by 65.2% in the 4th quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock valued at $51,940,000 after purchasing an additional 1,036,423 shares during the last quarter. Finally, Millennium Management LLC raised its position in Fluence Energy by 11.3% in the third quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock valued at $24,114,000 after purchasing an additional 227,080 shares during the period. Hedge funds and other institutional investors 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.