Fluence Energy, Inc. (NASDAQ:FLNC) Given Consensus Recommendation of “Hold” by Analysts

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned an average recommendation of “Hold” from the twenty-six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nineteen have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $10.64.

FLNC has been the topic of several analyst reports. Guggenheim dropped their price objective on Fluence Energy from $6.00 to $2.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Barclays restated an “equal weight” rating and issued a $5.00 price target (down previously from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. Susquehanna cut their price target on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Citigroup decreased their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Bank of America lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $8.00 in a research note on Thursday, February 13th.

Insider Activity

In related news, Director Herman E. Bulls bought 30,000 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $6.53 per share, with a total value of $195,900.00. Following the purchase, the director now owns 105,861 shares in the company, valued at approximately $691,272.33. This represents a 39.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Julian Nebreda purchased 23,500 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the purchase, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 79,000 shares of company stock valued at $499,665. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after purchasing an additional 110,256 shares during the period. Zimmer Partners LP boosted its stake in Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after buying an additional 1,894,301 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after buying an additional 296,325 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Fluence Energy by 63.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company’s stock worth $24,940,000 after acquiring an additional 610,229 shares during the period. Finally, Geode Capital Management LLC raised its position in Fluence Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock worth $24,035,000 after acquiring an additional 5,216 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Up 4.6 %

NASDAQ FLNC opened at $4.28 on Friday. The stock has a market cap of $777.03 million, a P/E ratio of -85.60 and a beta of 2.48. The company’s fifty day simple moving average is $4.74 and its 200-day simple moving average is $12.43. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy has a 52 week low of $3.46 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. Equities research analysts predict that Fluence Energy will post 0.08 EPS for the current fiscal year.

About Fluence Energy

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.