Fluence Energy Price Target Cut to $4 by Royal Bank Of Canada
Fluence Energy (NASDAQ:FLNC), a global energy storage and software company, has seen its price target cut by analysts at Royal Bank Of Canada. The firm lowered its price objective from $15 to $4 in a research note issued on Thursday.
This is not the first time Fluence Energy's price target has been adjusted this year. In August, UBS Group raised the stock from 'sell' to 'neutral', and increased its target price from $9 to $12. Needham & Company LLC reissued a 'hold' rating on shares of Fluence Energy in a research report.
Five investment analysts have rated the stock with a 'buy' rating, thirteen have assigned a 'hold' rating, and seven have given a 'sell' rating to the company. According to MarketBeat.com, Fluence Energy presently has a consensus rating of 'reduce' and a consensus target price of $14.23.
The company's stock opened at $7.27 on Thursday. Its current ratio is 1.34, its quick ratio is 0.89, and its debt-to-equity ratio is 0.91. The firm has a market capitalization of $1.34 billion, a PE ratio of -12.23, and a beta of 2.74.
Analysts expect Fluence Energy to post -$0.51 EPS for the current year. Insider transactions at the company have also been in focus recently, with SVP John Zahurancik selling 16,000 shares on June 22nd.