Mizuho Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Key Points

• Mizuho cut Fluence Energy’s price target from $8 to $6 and maintained an “underperform” rating, implying roughly 18% downside from the stock’s $7.32 opening price.
• Analyst sentiment is broadly negative: the consensus rating is “Reduce” with a $12.42 target, while recent downgrades included Barclays, Robert W. Baird, and Zacks Research.
• Fluence reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below the $818.57 million analyst estimate; analysts expect a full-year loss of approximately $1.03 per share.

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price reduced by equities researchers at Mizuho from $8.00 to $6.00 in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has an "underperform" rating on the stock. Mizuho's target price would suggest a potential downside of 18.03% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Fluence Energy in a report on Wednesday, August 5th. Barclays downgraded Fluence Energy from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $16.00 to $10.00 in a research note on Thursday, September 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Fluence Energy in a research report on Thursday. Robert W. Baird restated an "underperform" rating and issued a $3.00 price target (down from $10.00) on shares of Fluence Energy in a research report on Thursday. Finally, Zacks Research lowered shares of Fluence Energy from a "hold" rating to a "strong sell" rating in a report on Thursday, September 10th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $12.42.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $7.32 on Monday. The firm's fifty day moving average price is $12.18 and its two-hundred day moving average price is $15.92. The stock has a market cap of $1.35 billion, a PE ratio of -12.00 and a beta of 2.74. Fluence Energy has a fifty-two week low of $7.01 and a fifty-two week high of $33.51. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.The company had revenue of $649.85 million for the quarter, compared to analyst estimates of $818.57 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm's quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Fluence Energy will post -1.03 EPS for the current fiscal year.

Insider Activity

In other news, SVP John Zahurancik sold 15,974 shares of the company's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total value of $351,907.22. Following the sale, the senior vice president directly owned 71,171 shares of the company's stock, valued at approximately $1,567,897.13. This represents a 18.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.69% of the company's stock.

Institutional Trading of Fluence Energy

A number of large investors have recently bought and sold shares of the business. IFP Advisors Inc boosted its position in shares of Fluence Energy by 184.1% during the 2nd quarter. IFP Advisors Inc now owns 1,540 shares of the company's stock valued at $31,000 after purchasing an additional 998 shares in the last quarter. Curio Wealth LLC bought a new position in shares of Fluence Energy during the 4th quarter worth approximately $31,000. Sankala Group LLC bought a new position in shares of Fluence Energy during the 4th quarter worth approximately $51,000. EverSource Wealth Advisors LLC grew its position in shares of Fluence Energy by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock worth $38,000 after buying an additional 672 shares during the period. Finally, Allworth Financial LP grew its position in shares of Fluence Energy by 415.3% during the 2nd quarter. Allworth Financial LP now owns 3,056 shares of the company's stock worth $61,000 after buying an additional 2,463 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

About Fluence Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.