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

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $28.76.

A number of equities analysts recently issued reports on the stock. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price objective for the company in a research report on Monday, February 26th. The Goldman Sachs Group lowered their price objective on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. upgraded shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research report on Friday, February 23rd. Morgan Stanley lowered 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. Finally, Piper Sandler reduced their target price on shares of Fluence Energy from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pflug Koory LLC bought a new position in Fluence Energy during the first quarter worth $35,000. Quarry LP bought a new position in Fluence Energy during the fourth quarter worth $38,000. Baillie Gifford & Co. bought a new position in Fluence Energy during the first quarter worth $38,000. Quest Partners LLC acquired a new position in Fluence Energy during the fourth quarter worth $60,000. Finally, National Bank of Canada FI raised its holdings in Fluence Energy by 116.3% during the fourth quarter. National Bank of Canada FI now owns 2,595 shares of the company’s stock worth $62,000 after buying an additional 1,395 shares during the last quarter. 53.16% of the stock is owned by institutional investors.

Fluence Energy Stock Down 7.1 %

NASDAQ FLNC opened at $20.43 on Tuesday. The company has a market capitalization of $3.67 billion, a P/E ratio of -52.38 and a beta of 2.63. Fluence Energy has a 12-month low of $13.03 and a 12-month high of $31.32. The firm has a 50-day moving average price of $19.54 and a two-hundred day moving average price of $19.71.

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