Fluence Energy shares fall as Piper Sandler starts with Underweight
Fluence Energy (FLNC) fell 7.1% after Piper Sandler initiated coverage with an Underweight rating and a $6 price target, citing healthy backlog for volume growth but caution on margin durability.
1% in Wednesday's trading after Piper Sandler started coverage with an Underweight rating and a $6 price target. The brokerage said the battery storage company's healthy backlog supports volume growth, but it remains cautious on margin durability.