Barclays Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price target reduced by analysts at Barclays from $28.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 60.00% from the stock’s current price.

FLNC has been the subject of a number of other reports. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Susquehanna boosted their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Canaccord Genuity Group decreased their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research report on Friday, November 8th. Finally, Piper Sandler upped their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.80.

Fluence Energy Trading Up 3.2 %

FLNC stock opened at $13.75 on Wednesday. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $26.12. The firm has a market cap of $2.49 billion, a PE ratio of 105.77, a P/E/G ratio of 0.47 and a beta of 2.42. The business’s 50-day moving average price is $17.36 and its two-hundred day moving average price is $18.55.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the firm earned $0.02 earnings per share. The company’s revenue was up 82.5% on a year-over-year basis. On average, analysts forecast that Fluence Energy will post 0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its stake in Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after buying an additional 2,047,063 shares during the period. FMR LLC raised its stake in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares during the period. Geode Capital Management LLC raised its stake in Fluence Energy by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after buying an additional 60,633 shares during the period. Clearbridge Investments LLC raised its stake in Fluence Energy by 1.6% in the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after buying an additional 23,927 shares during the period. Finally, Erste Asset Management GmbH bought a new stake in Fluence Energy in the third quarter valued at approximately $22,059,000. 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.