Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Recommendation of “Moderate Buy” from Analysts

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $29.06.

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target on the stock in a report on Monday, February 26th. Roth Mkm reiterated a “buy” rating and issued a $27.00 price target (down previously from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group cut their price target on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Fluence Energy by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after acquiring an additional 656,839 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Fluence Energy by 21.2% in 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 in the last quarter. FMR LLC increased its holdings in Fluence Energy by 146.9% in the 3rd quarter. FMR LLC now owns 3,959,313 shares of the company’s stock worth $91,025,000 after acquiring an additional 2,355,849 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in 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 purchasing an additional 1,706,808 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Fluence Energy by 65.2% during the 3rd quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock worth $61,950,000 after purchasing an additional 1,063,609 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Up 0.8 %

Shares of Fluence Energy stock opened at $20.21 on Friday. The firm has a market capitalization of $3.61 billion, a P/E ratio of -51.82 and a beta of 2.48. The company has a 50 day moving average price of $17.06 and a 200 day moving average price of $19.18. Fluence Energy has a 52 week low of $13.03 and a 52 week high of $31.32.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. Fluence Energy’s revenue was down 10.7% on a year-over-year basis. During the same period last year, the firm posted ($0.21) EPS. As a group, research analysts anticipate that Fluence Energy will post 0.14 earnings per share for the current fiscal 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.