Mizuho Reaffirms Underperform Rating for Fluence Energy (NASDAQ:FLNC)

Fluence Energy (NASDAQ:FLNC)‘s stock had its “underperform” rating reaffirmed by stock analysts at Mizuho in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $15.00 price target on the stock, up from their prior price target of $9.00. Mizuho’s price objective would suggest a potential downside of 37.34% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of Fluence Energy from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $11.00 to $16.00 in a research note on Wednesday, November 26th. Canaccord Genuity Group lifted their price target on Fluence Energy from $10.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Wall Street Zen raised Fluence Energy from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Barclays raised their price objective on Fluence Energy from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Finally, BNP Paribas set a $9.00 target price on Fluence Energy and gave the company an “underperform” rating in a research report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Fluence Energy has a consensus rating of “Reduce” and a consensus price target of $13.28.

Fluence Energy Stock Performance

FLNC opened at $23.94 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $24.79. The firm has a market cap of $4.38 billion, a P/E ratio of -57.00 and a beta of 2.88. The business’s fifty day moving average is $18.26 and its 200-day moving average is $11.26.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company earned $0.34 EPS. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. Sell-side analysts expect that Fluence Energy will post 0.08 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Canal Insurance CO increased its holdings in shares of Fluence Energy by 16.0% during the second quarter. Canal Insurance CO now owns 580,000 shares of the company’s stock valued at $3,892,000 after acquiring an additional 80,000 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Fluence Energy by 32.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 509,363 shares of the company’s stock worth $3,157,000 after acquiring an additional 124,203 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Fluence Energy by 616.2% in the 1st quarter. Hsbc Holdings PLC now owns 140,534 shares of the company’s stock worth $669,000 after acquiring an additional 120,913 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Fluence Energy in the 2nd quarter worth about $160,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Fluence Energy in the 2nd quarter valued at about $477,000. 53.16% of the stock is currently owned by 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.