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Fluence Energy downgraded to Neutral from Buy at Roth MKM

Roth MKM analyst Justin Clare downgraded Fluence Energy (FLNC) to Neutral from Buy with a price target of $6.50, down from $20, following the “weak” fiscal Q1 report. The firm sees risk that Fluence’s competitive pressure results in sustained gross margin compression, especially in international markets, which represented 56% of the company’s pipeline as of Q1. Roth cites sustained downward margin pressure for the downgrade.

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