Fluence Energy (NASDAQ:FLNC) Given New $15.00 Price Target at Robert W. Baird

Fluence Energy (NASDAQ:FLNCGet Rating) had its target price reduced by investment analysts at Robert W. Baird from $25.00 to $15.00 in a report issued on Friday, The Fly reports. Robert W. Baird’s target price indicates a potential upside of 137.72% from the company’s previous close.

Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Fluence Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Morgan Stanley dropped their price target on shares of Fluence Energy from $34.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 5th. HSBC began coverage on shares of Fluence Energy in a research report on Wednesday, February 16th. They issued a “buy” rating and a $26.00 price target for the company. Guggenheim began coverage on shares of Fluence Energy in a research report on Tuesday, March 22nd. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Fluence Energy from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, April 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $37.75.

Shares of NASDAQ FLNC opened at $6.31 on Friday. The firm’s 50 day simple moving average is $11.20. Fluence Energy has a 12-month low of $4.96 and a 12-month high of $39.40.

Fluence Energy (NASDAQ:FLNCGet Rating) last announced its earnings results on Wednesday, February 9th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.54). The company had revenue of $174.89 million for the quarter, compared to the consensus estimate of $209.42 million. On average, equities analysts predict that Fluence Energy will post -1.13 EPS for the current fiscal year.

In other Fluence Energy news, Director Julian Nebreda purchased 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The shares were bought at an average price of $13.00 per share, with a total value of $104,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Manuel Perez Dubuc purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 17th. The shares were acquired at an average cost of $13.10 per share, for a total transaction of $131,000.00. The disclosure for this purchase can be found here. Insiders bought 29,438 shares of company stock worth $384,736 in the last three months. Insiders own 0.01% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in Fluence Energy during the fourth quarter valued at $106,061,000. BlackRock Inc. bought a new position in Fluence Energy during the fourth quarter valued at $70,005,000. Jennison Associates LLC bought a new position in Fluence Energy during the fourth quarter valued at $62,854,000. Norges Bank bought a new position in Fluence Energy during the fourth quarter valued at $51,340,000. Finally, Handelsbanken Fonder AB increased its position in Fluence Energy by 140.3% during the first quarter. Handelsbanken Fonder AB now owns 1,205,379 shares of the company’s stock valued at $15,803,000 after acquiring an additional 703,830 shares during the last quarter.

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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