Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Fluence Energy, Inc. (NASDAQ:FLNC) has earned an average recommendation of “Moderate Buy” from the twenty research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $28.67.

Several analysts have issued reports on FLNC shares. BMO Capital Markets cut their price target on shares of Fluence Energy from $31.00 to $28.00 and set a “market perform” rating for the company in a research report on Monday, August 14th. Roth Mkm dropped their target price on shares of Fluence Energy from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 11th. Morgan Stanley dropped their target price on shares of Fluence Energy from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, October 17th. Guggenheim increased their target price on shares of Fluence Energy from $40.00 to $44.00 in a report on Friday, August 11th. Finally, Citigroup increased their target price on shares of Fluence Energy from $28.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, July 27th.

Hedge Funds Weigh In On Fluence Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in shares of Fluence Energy during the second quarter valued at approximately $25,000. National Bank of Canada FI bought a new position in shares of Fluence Energy during the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Fluence Energy by 185.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after buying an additional 1,388 shares during the last quarter. Quarry LP grew its holdings in shares of Fluence Energy by 342.2% during the first quarter. Quarry LP now owns 2,401 shares of the company’s stock valued at $49,000 after buying an additional 1,858 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Fluence Energy by 20.6% during the second quarter. Ameritas Investment Partners Inc. now owns 3,251 shares of the company’s stock valued at $87,000 after buying an additional 556 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $17.26 on Monday. The company has a 50-day simple moving average of $22.82 and a two-hundred day simple moving average of $23.79. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 0.09. Fluence Energy has a 12-month low of $12.60 and a 12-month high of $31.32. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -18.36 and a beta of 2.60.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.01. Fluence Energy had a negative net margin of 5.54% and a negative return on equity of 21.07%. The business had revenue of $536.35 million during the quarter, compared to analyst estimates of $478.49 million. During the same period in the prior year, the business posted ($0.99) earnings per share. The company’s revenue was up 124.4% on a year-over-year basis. On average, equities analysts forecast that Fluence Energy will post -0.7 EPS for the current year.

About Fluence Energy

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.