Fluence Energy (NASDAQ:FLNC) Upgraded at Citigroup

Citigroup upgraded shares of Fluence Energy (NASDAQ:FLNC) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. Citigroup currently has $24.00 price target on the stock, down from their prior price target of $26.00.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada boosted their price objective on shares of Fluence Energy from $12.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. Roth Capital upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, May 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $15.00 price target on shares of Fluence Energy in a research note on Wednesday, April 29th. Truist Financial started coverage on shares of Fluence Energy in a report on Monday, July 13th. They set a “hold” rating and a $16.00 price target on the stock. Finally, Canaccord Genuity Group set a $28.00 price objective on shares of Fluence Energy in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.53.

Fluence Energy Stock Down 6.8%

Shares of FLNC stock opened at $13.44 on Wednesday. The stock has a market cap of $2.48 billion, a P/E ratio of -37.33 and a beta of 2.75. Fluence Energy has a 52 week low of $6.60 and a 52 week high of $33.51. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The company’s fifty day simple moving average is $19.91 and its two-hundred day simple moving average is $18.99.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The business had revenue of $464.89 million during the quarter, compared to the consensus estimate of $614.93 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. The business’s revenue was up 7.7% on a year-over-year basis. Analysts predict that Fluence Energy will post -0.18 EPS for the current fiscal year.

Insider Transactions at Fluence Energy

In other news, SVP John Zahurancik sold 15,974 shares of Fluence Energy 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 completion of the sale, the senior vice president directly owned 71,171 shares in the company, valued at approximately $1,567,897.13. This trade represents 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, major shareholder Qatar Investment Authority sold 2,867,172 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the sale, the insider directly owned 11,801,103 shares of the company’s stock, valued at $247,823,163. This represents a 19.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,904,146 shares of company stock worth $61,090,399. 0.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently added to or reduced their stakes in the stock. Curio Wealth LLC bought a new position in Fluence Energy in the 4th quarter worth about $31,000. State of Wyoming bought a new stake in shares of Fluence Energy during the fourth quarter valued at approximately $36,000. GAMMA Investing LLC raised its stake in shares of Fluence Energy by 22.2% during the fourth quarter. GAMMA Investing LLC now owns 2,406 shares of the company’s stock valued at $48,000 after acquiring an additional 437 shares in the last quarter. Sankala Group LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $51,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Fluence Energy by 31.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock valued at $38,000 after purchasing an additional 672 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

About Fluence Energy

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.