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

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $28.56.

FLNC has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. BMO Capital Markets raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Tuesday, January 16th. JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective on the stock in a research report on Friday, February 23rd. The Goldman Sachs Group cut their price objective on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price objective on the stock in a research report on Monday, February 26th.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Fluence Energy in the 1st quarter worth approximately $132,000. Pflug Koory LLC bought a new position in shares of Fluence Energy in the 1st quarter worth approximately $35,000. Renaissance Capital LLC lifted its stake in shares of Fluence Energy by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 38,243 shares of the company’s stock worth $663,000 after purchasing an additional 1,111 shares during the period. Quadrature Capital Ltd bought a new position in shares of Fluence Energy in the 4th quarter worth approximately $1,136,000. Finally, Vanguard Group Inc. lifted its stake in shares of Fluence Energy by 41.0% in the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after purchasing an additional 1,605,345 shares during the period. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Down 3.1 %

FLNC stock opened at $15.10 on Monday. The firm has a 50 day moving average of $16.28 and a 200-day moving average of $19.37. Fluence Energy has a 12 month low of $13.03 and a 12 month high of $31.32. The firm has a market capitalization of $2.70 billion, a P/E ratio of -28.49 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $363.96 million for the quarter, compared to the consensus estimate of $403.93 million. Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Sell-side analysts predict that Fluence Energy will post 0.14 EPS for the current year.

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.