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

Key Points

• Citigroup lowered its Fluence Energy price target from $24 to $20 while maintaining a “buy” rating, implying 51.57% upside from the stock’s previous close.
• Fluence shares traded at $13.20, near the lower end of their $6.60–$33.51 yearly range. The stock has an average analyst rating of “Hold” and a consensus price target of $18.58.
• The company reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below analysts’ $818.57 million estimate, although revenue increased 7.9% year over year.

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price dropped by equities researchers at Citigroup from $24.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 51.57% from the company's previous close.

A number of other equities research analysts have also issued reports on FLNC. Truist Financial initiated coverage on Fluence Energy in a research report on Monday, July 13th. They issued a "hold" rating and a $16.00 price target on the stock. The Goldman Sachs Group reissued a "buy" rating and set a $22.00 target price on shares of Fluence Energy in a research report on Thursday, May 7th. BMO Capital Markets restated a "market perform" rating and set a $15.00 price objective on shares of Fluence Energy in a research report on Wednesday, April 29th. Roth Capital set a $18.00 price objective on Fluence Energy in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Fluence Energy in a report on Wednesday, August 5th. Seven research 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.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.58.

Fluence Energy Trading Down 0.2%

FLNC stock traded down $0.03 during midday trading on Friday, hitting $13.20. 2,071,195 shares of the company's stock were exchanged, compared to its average volume of 8,174,929. Fluence Energy has a 1-year low of $6.60 and a 1-year high of $33.51. The business has a 50-day simple moving average of $17.50 and a two-hundred day simple moving average of $17.89. The stock has a market capitalization of $2.43 billion, a PE ratio of -21.65 and a beta of 2.78. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The firm had revenue of $649.85 million during the quarter, compared to analysts' expectations of $818.57 million. During the same period in the previous year, the firm earned $0.01 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Fluence Energy will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Fluence Energy news, SVP John Zahurancik sold 15,974 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $22.03, for a total transaction of $351,907.22. Following the sale, the senior vice president directly owned 71,171 shares in the company, valued at approximately $1,567,897.13. The trade was a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of Fluence Energy stock in a transaction that occurred 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 $1,463,750. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 36,974 shares of company stock valued at $879,787. Insiders own 0.69% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FLNC. Curio Wealth LLC purchased a new stake in shares of Fluence Energy during the 4th quarter valued at about $31,000. State of Wyoming bought a new position in Fluence Energy during the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC lifted its position in shares of Fluence Energy by 31.8% in 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 last quarter. Advisory Services Network LLC acquired a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $48,000. Finally, Sankala Group LLC bought a new stake in Fluence Energy in the 4th quarter valued at about $51,000. 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.

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