Fluence Energy, Inc. (NASDAQ:FLNC) Receives $26.65 Consensus Target Price from Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been given a consensus rating of “Moderate Buy” by the twenty-one ratings firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $26.65.

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Robert W. Baird restated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Jefferies Financial Group began coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Guggenheim reiterated a “buy” rating and set a $26.00 price target on shares of Fluence Energy in a report on Friday, December 6th.

Fluence Energy Stock Performance

Shares of FLNC opened at $16.42 on Friday. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $26.12. The company’s fifty day moving average is $19.00 and its 200 day moving average is $18.85. The stock has a market capitalization of $2.97 billion, a PE ratio of 126.31, a P/E/G ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm posted $0.02 EPS. The business’s quarterly revenue was up 82.5% on a year-over-year basis. As a group, research analysts forecast that Fluence Energy will post 0.56 earnings per share for the current year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently modified their holdings of the business. PARK CIRCLE Co bought a new position in shares of Fluence Energy during the second quarter valued at approximately $28,000. US Bancorp DE lifted its holdings in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. CWM LLC boosted its position in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy in the 3rd quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Fluence Energy in the 3rd quarter valued at $87,000. Institutional investors own 53.16% of the company’s stock.

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.