Fluence Energy (NASDAQ:FLNC) Price Target Raised to $25.00 at Bank of America

Fluence Energy (NASDAQ:FLNC) had its price target raised by Bank of America from $17.00 to $25.00 in a research note published on Tuesday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on FLNC. Jefferies Financial Group upgraded Fluence Energy from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $11.00 to $16.00 in a report on Wednesday, November 26th. Canaccord Genuity Group boosted their price objective on Fluence Energy from $10.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. BNP Paribas Exane reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Fluence Energy in a research note on Tuesday, October 21st. The Goldman Sachs Group lifted their price target on Fluence Energy from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Johnson Rice restated a “hold” rating and set a $18.00 price objective on shares of Fluence Energy in a research report on Monday. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of “Reduce” and a consensus target price of $13.28.

Fluence Energy Price Performance

Fluence Energy stock opened at $23.94 on Tuesday. The company has a fifty day simple moving average of $18.26 and a 200-day simple moving average of $11.26. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -57.00 and a beta of 2.88. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $24.79.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year. On average, equities analysts anticipate that Fluence Energy will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently bought and sold shares of FLNC. Parallel Advisors LLC purchased a new stake in shares of Fluence Energy during the second quarter worth approximately $30,000. Advisory Services Network LLC acquired a new position in Fluence Energy during the 3rd quarter worth approximately $48,000. Quantbot Technologies LP acquired a new position in Fluence Energy during the 3rd quarter worth approximately $51,000. Ameritas Investment Partners Inc. increased its position in shares of Fluence Energy by 25.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock valued at $52,000 after purchasing an additional 1,586 shares during the last quarter. Finally, TFB Advisors LLC acquired a new stake in shares of Fluence Energy in the 1st quarter valued at $53,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.