Fluence Energy (NASDAQ:FLNC) Price Target Cut to $28.00 by Analysts at Barclays

Fluence Energy (NASDAQ:FLNC) had its price objective trimmed by Barclays from $30.00 to $28.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

FLNC has been the topic of several other reports. Scotiabank raised shares of Fluence Energy to a hold rating in a research note on Friday, July 12th. Raymond James raised shares of Fluence Energy from a market perform rating to an outperform rating and set a $22.00 price objective for the company in a research note on Wednesday, April 3rd. Roth Mkm reissued a buy rating and issued a $27.00 target price (down from $31.00) on shares of Fluence Energy in a research note on Friday, May 10th. Evercore ISI dropped their price objective on Fluence Energy from $59.00 to $47.00 and set an outperform rating for the company in a report on Monday, May 13th. Finally, Bank of America reduced their target price on Fluence Energy from $29.00 to $28.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $28.22.

Fluence Energy Stock Up 4.9 %

Fluence Energy stock opened at $16.37 on Friday. The firm has a fifty day simple moving average of $19.54 and a two-hundred day simple moving average of $18.39. Fluence Energy has a twelve month low of $13.03 and a twelve month high of $30.19. The company has a market capitalization of $2.94 billion, a PE ratio of -41.97 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The company 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) EPS. Fluence Energy’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, equities analysts expect that Fluence Energy will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of Fluence Energy

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Fluence Energy by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,916,034 shares of the company’s stock worth $90,030,000 after buying an additional 98,541 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Fluence Energy in the 4th quarter valued at approximately $207,000. Assenagon Asset Management S.A. boosted its stake in Fluence Energy by 6.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock valued at $326,000 after purchasing an additional 849 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Fluence Energy by 50.6% in the 4th quarter. Arizona State Retirement System now owns 17,547 shares of the company’s stock worth $418,000 after purchasing an additional 5,895 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Fluence Energy in the fourth quarter worth $270,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

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.