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

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned an average recommendation of “Hold” from the twenty-four analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.58.

Several research firms have commented on FLNC. Jefferies Financial Group reiterated an “underperform” rating and set a $6.00 price objective on shares of Fluence Energy in a research note on Friday. Robert W. Baird cut their price objective on Fluence Energy from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Canaccord Genuity Group cut their price objective on Fluence Energy from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. UBS Group boosted their price objective on Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Finally, Guggenheim cut their price objective on Fluence Energy from $6.00 to $2.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director owned 86,202 shares in the company, valued at $508,591.80. The trade was a 62.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Fluence Energy by 1.8% in the fourth 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. Goldman Sachs Group Inc. increased its holdings in Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after acquiring an additional 2,076,668 shares during the period. CenterBook Partners LP bought a new stake in Fluence Energy during the 1st quarter worth approximately $12,458,000. Zimmer Partners LP increased its holdings in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock worth $34,052,000 after acquiring an additional 1,894,301 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Fluence Energy by 19.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after buying an additional 296,325 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Trading Up 4.8%

Shares of FLNC stock opened at $8.32 on Wednesday. Fluence Energy has a 1 year low of $3.46 and a 1 year high of $24.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $5.86 and its two-hundred day simple moving average is $7.42. The company has a market cap of $1.51 billion, a PE ratio of -37.82 and a beta of 2.65.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The firm’s revenue was down 30.7% compared to the same quarter last year. During the same period last year, the business posted ($0.07) EPS. Research analysts predict that Fluence Energy will post 0.08 earnings per share for the current year.

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.