Fluence Energy (NASDAQ:FLNC) Given New $6.00 Price Target at Mizuho

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its price target lowered by Mizuho from $7.00 to $6.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price objective would indicate a potential upside of 25.79% from the company's current price.

FLNC has been the topic of a number of other research reports. The Goldman Sachs Group decreased their target price on shares of Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Hsbc Global Res downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Citigroup cut their price target on Fluence Energy from $24.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Barclays reiterated an "equal weight" rating and set a $5.00 price target (down previously from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. Finally, Robert W. Baird cut their price target on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.12.

Fluence Energy Trading Up 7.4%

Shares of NASDAQ:FLNC traded up $0.33 during midday trading on Monday, hitting $4.77. The company had a trading volume of 2,879,614 shares, compared to its average volume of 3,631,446. The stock has a market cap of $865.99 million, a price-to-earnings ratio of -95.40 and a beta of 2.49. Fluence Energy has a 12 month low of $3.46 and a 12 month high of $25.13. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $4.49 and a 200 day simple moving average of $9.82.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The company had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. During the same quarter in the previous year, the business earned ($0.07) EPS. Fluence Energy's revenue was down 30.7% on a year-over-year basis. On average, analysts predict that Fluence Energy will post 0.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the transaction, the director now directly owns 115,861 shares in the company, valued at approximately $626,808.01. This represents a 9.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $5.90 per share, with a total value of $194,700.00. Following the acquisition, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. This represents a 62.03% increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Duff & Phelps Investment Management Co. increased its stake in Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock valued at $432,000 after purchasing an additional 1,432 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its stake in shares of Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock worth $352,000 after acquiring an additional 1,500 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Fluence Energy by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock worth $6,988,000 after acquiring an additional 1,734 shares during the period. Swiss National Bank increased its stake in shares of Fluence Energy by 1.4% in the fourth quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after acquiring an additional 1,800 shares during the period. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy in the fourth quarter worth $34,000. Institutional investors own 53.16% of the company's stock.

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.