Brokerages Expect Fluence Energy, Inc. (NASDAQ:FLNC) Will Post Quarterly Sales of $247.16 Million

Equities research analysts expect Fluence Energy, Inc. (NASDAQ:FLNC – Get Rating) to report $247.16 million in sales for the current quarter, according to Zacks. Eleven analysts have issued estimates for Fluence Energy’s earnings. The lowest sales estimate is $202.97 million and the highest is $276.90 million. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Fluence Energy will report full year sales of $1.16 billion for the current year, with estimates ranging from $1.09 billion to $1.26 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.70 billion, with estimates ranging from $1.51 billion to $1.96 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fluence Energy.

Fluence Energy (NASDAQ:FLNC – Get Rating) last released its quarterly earnings data on Wednesday, February 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.54). The company had revenue of $174.89 million during the quarter, compared to analysts’ expectations of $209.42 million.

A number of research firms recently issued reports on FLNC. Citigroup reduced their price objective on Fluence Energy from $47.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, February 15th. Morgan Stanley cut their target price on Fluence Energy from $34.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 5th. HSBC began coverage on Fluence Energy in a report on Wednesday, February 16th. They set a “buy” rating and a $26.00 target price on the stock. Zacks Investment Research upgraded Fluence Energy from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Finally, Bank of America lowered Fluence Energy from a “neutral” rating to an “underperform” rating and set a $14.00 target price on the stock. in a report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $38.38.

FLNC opened at $10.39 on Friday. Fluence Energy has a 1 year low of $8.59 and a 1 year high of $39.40. The company’s fifty day moving average price is $11.48.

In related news, Director Julian Nebreda acquired 8,000 shares of the firm’s stock in a transaction on Tuesday, February 15th. The shares were bought at an average cost of $13.00 per share, with a total value of $104,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Manuel Perez Dubuc acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, February 15th. The shares were bought at an average cost of $12.90 per share, for a total transaction of $129,000.00. The disclosure for this purchase can be found here. Insiders have purchased 29,438 shares of company stock worth $384,736 over the last 90 days. Corporate insiders own 0.01% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. JPMorgan Chase & Co. acquired a new stake in Fluence Energy during the fourth quarter valued at approximately $106,061,000. BlackRock Inc. acquired a new stake in Fluence Energy during the fourth quarter valued at approximately $70,005,000. Jennison Associates LLC acquired a new stake in Fluence Energy during the fourth quarter valued at approximately $62,854,000. Norges Bank acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $51,340,000. Finally, Schroder Investment Management Group acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $41,041,000.

Fluence Energy Company Profile (Get Rating)

Fluence Energy, Inc provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions.

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