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Fluence Energy (NASDAQ:FLNC) Hits New 12-Month Low Following Analyst Downgrade

Fluence Energy Inc (NASDAQ:FLNC)’s share price reached a new 52-week low during trading on Thursday after JPMorgan Chase & Co. lowered their price…

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This article was originally published by ETF Daily News

Fluence Energy Inc (NASDAQ:FLNC)’s share price reached a new 52-week low during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $45.00 to $39.00. The stock traded as low as $21.44 and last traded at $21.46, with a volume of 22624 shares traded. The stock had previously closed at $21.93.

FLNC has been the subject of several other research reports. Evercore ISI began coverage on Fluence Energy in a research report on Monday, November 22nd. They issued an “outperform” rating and a $47.00 price objective for the company. Siebert Williams Shank began coverage on Fluence Energy in a research report on Monday, November 29th. They set a “buy” rating and a $53.00 target price for the company. Citigroup began coverage on Fluence Energy in a research report on Monday, November 22nd. They set a “buy” rating and a $47.00 target price for the company. UBS Group began coverage on Fluence Energy in a research report on Monday, November 22nd. They set a “buy” rating and a $47.00 target price for the company. Finally, Raymond James began coverage on Fluence Energy in a research report on Monday, November 22nd. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $45.50.

The business’s 50 day moving average price is $31.79.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Tuesday, December 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.11. The business had revenue of $163.70 million during the quarter, compared to analyst estimates of $184.60 million. Fluence Energy’s revenue for the quarter was down 27.1% compared to the same quarter last year. Research analysts predict that Fluence Energy Inc will post -0.81 EPS for the current fiscal year.

Fluence Energy Company Profile (NASDAQ:FLNC)

Fluence Energy Inc is a provider of energy storage products and services and digital applications for renewables and storage. Fluence Energy Inc is based in ARLINGTON, Va.

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The post Fluence Energy (NASDAQ:FLNC) Hits New 12-Month Low Following Analyst Downgrade appeared first on ETF Daily News.

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