Goldman Sachs Downgrades Fluence Energy to Neutral Amid Supply Chain Worries
The Goldman Sachs Group downgraded Fluence Energy (NASDAQ:FLNC) from 'buy' to 'neutral', according to a research report issued on Thursday. The price target remains at $9.00, indicating a potential downside of 0.55% from the stock's previous close.
This downgrade comes amidst a series of adjustments by other brokerages. Morgan Stanley set a $15.00 target price, while Roth Capital set an $18.00 price target. Citigroup lowered its price objective on shares of Fluence Energy from $24.00 to $20.00 and set a 'buy' rating for the company.
Fluence Energy's stock opened at $9.05 on Thursday, with a market cap of $1.67 billion. The business has a 50-day moving average of $12.54 and a 200-day moving average of $16.03. The firm reported ($0.24) earnings per share for the quarter, with revenue up 7.9% year-over-year.