Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $7.00 at Royal Bank Of Canada

Fluence Energy (NASDAQ:FLNC) had its target price decreased by Royal Bank Of Canada from $8.00 to $7.00 in a report released on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Fluence Energy from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Hsbc Global Res downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. UBS Group raised their target price on shares of Fluence Energy from $4.50 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Susquehanna raised their target price on shares of Fluence Energy from $6.00 to $11.00 and gave the company a “positive” rating in a report on Monday, July 21st. Finally, BMO Capital Markets set a $5.00 target price on shares of Fluence Energy and gave the company a “market perform” rating in a report on Wednesday, June 25th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.98.

Fluence Energy Stock Up 2.4%

Shares of NASDAQ FLNC opened at $7.55 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. Fluence Energy has a 52 week low of $3.46 and a 52 week high of $24.00. The firm has a 50-day moving average price of $7.41 and a 200 day moving average price of $6.44. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -35.95 and a beta of 2.67.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. Fluence Energy had a negative net margin of 0.76% and a negative return on equity of 3.42%. The firm had revenue of $602.53 million during the quarter, compared to analysts’ expectations of $738.52 million. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. Equities research analysts anticipate that Fluence Energy will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Goldman Sachs Group Inc. boosted its holdings in shares of Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after purchasing an additional 2,076,668 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Fluence Energy in the 1st quarter valued at $12,458,000. Zimmer Partners LP boosted its holdings in shares of Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after purchasing an additional 1,894,301 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Fluence Energy by 1,794.8% in the 2nd quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock valued at $12,539,000 after purchasing an additional 1,770,090 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Fluence Energy by 10.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,683,637 shares of the company’s stock valued at $11,298,000 after purchasing an additional 153,614 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.