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

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $29.00.

A number of equities research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Fluence Energy from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, November 30th. Bank of America raised their target price on Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Friday, February 23rd. The Goldman Sachs Group lowered 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 note on Friday, March 22nd. Finally, Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price for the company in a research note on Monday, February 26th.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $16.65 on Thursday. The business’s 50-day simple moving average is $17.66 and its 200-day simple moving average is $20.20. Fluence Energy has a 52 week low of $13.03 and a 52 week high of $31.32. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -31.42 and a beta of 2.55.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The firm had revenue of $363.96 million during 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 period in the prior year, the business earned ($0.21) EPS. As a group, equities research analysts forecast that Fluence Energy will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Fluence Energy

Hedge funds have recently modified their holdings of the stock. National Bank of Canada FI bought a new stake in Fluence Energy in the third quarter valued at $27,000. Quarry LP bought a new stake in shares of Fluence Energy in the 4th quarter worth about $38,000. Point72 Hong Kong Ltd acquired a new stake in shares of Fluence Energy during the 2nd quarter worth about $39,000. Allspring Global Investments Holdings LLC lifted its holdings in Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Comerica Bank boosted its position in Fluence Energy by 724.9% in the fourth quarter. Comerica Bank now owns 2,351 shares of the company’s stock valued at $56,000 after buying an additional 2,066 shares in the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

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.