Fluence Energy, Inc. (NASDAQ:FLNC) Given Average Rating of “Moderate Buy” by Analysts

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $29.40.

FLNC has been the subject of a number of recent analyst reports. HSBC lifted their price target on shares of Fluence Energy from $26.00 to $31.00 in a research note on Monday, June 5th. Royal Bank of Canada increased their price target on Fluence Energy from $26.00 to $32.00 in a report on Thursday, June 22nd. Janney Montgomery Scott began coverage on Fluence Energy in a report on Friday, June 2nd. They set a “buy” rating and a $30.00 price objective for the company. Barclays assumed coverage on Fluence Energy in a research note on Wednesday, August 30th. They issued an “overweight” rating and a $31.00 target price on the stock. Finally, BMO Capital Markets cut their price target on shares of Fluence Energy from $31.00 to $28.00 and set a “market perform” rating on the stock in a report on Monday, August 14th.

Fluence Energy Trading Down 0.8 %

FLNC opened at $25.24 on Friday. Fluence Energy has a 12 month low of $11.90 and a 12 month high of $31.32. The company has a current ratio of 1.46, a quick ratio of 0.92 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $26.46 and a 200 day moving average of $23.19. The firm has a market cap of $4.47 billion, a P/E ratio of -26.85 and a beta of 2.59.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, August 9th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.01. Fluence Energy had a negative return on equity of 21.07% and a negative net margin of 5.54%. The firm had revenue of $536.35 million during the quarter, compared to analysts’ expectations of $478.49 million. During the same quarter in the previous year, the business earned ($0.99) EPS. The company’s quarterly revenue was up 124.4% on a year-over-year basis. As a group, research analysts forecast that Fluence Energy will post -0.71 EPS for the current year.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Advisor Group Holdings Inc. boosted its position in Fluence Energy by 47.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 14,566 shares of the company’s stock valued at $191,000 after acquiring an additional 4,678 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Fluence Energy by 20.2% in the first quarter. Bank of New York Mellon Corp now owns 71,351 shares of the company’s stock valued at $935,000 after purchasing an additional 12,007 shares during the last quarter. Citigroup Inc. raised its stake in shares of Fluence Energy by 12,279.5% during the 1st quarter. Citigroup Inc. now owns 263,064 shares of the company’s stock worth $3,449,000 after acquiring an additional 260,939 shares in the last quarter. Bank of Montreal Can grew its stake in Fluence Energy by 54.0% during the 1st quarter. Bank of Montreal Can now owns 12,834 shares of the company’s stock worth $171,000 after buying an additional 4,501 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Fluence Energy by 802.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 96,747 shares of the company’s stock valued at $1,268,000 after purchasing an additional 86,025 shares during the last quarter. 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 services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.