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

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $28.56.

A number of equities analysts have recently weighed in on FLNC shares. Bank of America increased their price target on Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Piper Sandler cut their target price on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Raymond James raised Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. raised Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Friday, February 23rd. Finally, BMO Capital Markets raised Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Tuesday, January 16th.

Fluence Energy Price Performance

Shares of FLNC stock opened at $15.10 on Monday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -28.49 and a beta of 2.57. The stock has a 50 day simple moving average of $16.28 and a 200-day simple moving average of $19.37. Fluence Energy has a 1-year low of $13.03 and a 1-year high of $31.32.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The business had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. During the same period in the previous year, the company earned ($0.21) earnings per share. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts anticipate that Fluence Energy will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Fluence Energy

A number of institutional investors have recently bought and sold shares of FLNC. National Bank of Canada FI purchased a new stake in Fluence Energy during the third quarter worth $27,000. Pflug Koory LLC purchased a new stake in Fluence Energy during the first quarter worth $35,000. Quarry LP purchased a new stake in Fluence Energy during the fourth quarter worth $38,000. Point72 Hong Kong Ltd purchased a new stake in Fluence Energy during the second quarter worth $39,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Fluence Energy by 185.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after purchasing an additional 1,388 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

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