Fluence Energy (NASDAQ:FLNC) Receives New Coverage from Analysts at Truist Financial

Stock analysts at Truist Financial began coverage on shares of Fluence Energy (NASDAQ:FLNCGet Free Report) in a research report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $25.00 price target on the stock. Truist Financial’s target price would indicate a potential upside of 46.97% from the company’s current price.

Several other equities research analysts have also issued reports on FLNC. The Goldman Sachs Group dropped their price target on Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Fluence Energy in a research note on Friday, June 14th. Guggenheim lowered Fluence Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, June 6th. Piper Sandler lowered their target price on Fluence Energy from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, Evercore ISI lowered their target price on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.35.

Get Our Latest Research Report on FLNC

Fluence Energy Stock Down 1.0 %

Shares of FLNC stock opened at $17.01 on Wednesday. The business has a 50-day moving average price of $20.14 and a two-hundred day moving average price of $18.95. Fluence Energy has a 12-month low of $13.03 and a 12-month high of $31.32. The firm has a market cap of $3.05 billion, a P/E ratio of -43.61 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNCGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The firm had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. The company’s revenue was down 10.7% compared to the same quarter last year. As a group, research analysts expect that Fluence Energy will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLNC. Handelsbanken Fonder AB grew its holdings in shares of Fluence Energy by 145.5% during the 4th quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after acquiring an additional 1,706,808 shares during the period. Vanguard Group Inc. grew its holdings in shares of Fluence Energy by 41.0% during the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after acquiring an additional 1,605,345 shares during the period. Clean Energy Transition LLP purchased a new position in shares of Fluence Energy during the 4th quarter worth approximately $32,124,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Fluence Energy by 21.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock worth $75,086,000 after acquiring an additional 757,105 shares during the period. Finally, Norges Bank purchased a new position in shares of Fluence Energy during the 4th quarter worth approximately $13,931,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

(Get Free Report)

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.

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