Fluence Energy (NASDAQ:FLNC) Receives Buy Rating from Roth Mkm

Fluence Energy (NASDAQ:FLNC)‘s stock had its “buy” rating reissued by equities researchers at Roth Mkm in a report issued on Friday, Benzinga reports. They presently have a $27.00 price objective on the stock, down from their prior price objective of $31.00. Roth Mkm’s price target suggests a potential upside of 53.93% from the company’s current price.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a report on Friday, February 23rd. The Goldman Sachs Group cut their target price on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Wednesday, April 3rd. Piper Sandler dropped their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Finally, Susquehanna raised 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 note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.11.

Fluence Energy Stock Performance

Shares of Fluence Energy stock traded down $1.21 on Friday, hitting $17.54. 2,234,235 shares of the company traded hands, compared to its average volume of 2,244,385. The stock has a market capitalization of $3.13 billion, a P/E ratio of -32.85 and a beta of 2.48. Fluence Energy has a 52 week low of $13.03 and a 52 week high of $31.32. The business has a 50-day simple moving average of $16.48 and a 200 day simple moving average of $19.15.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The firm had revenue of $623.14 million for the quarter, compared to analysts’ expectations of $538.42 million. During the same quarter last year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. Research analysts expect that Fluence Energy will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of the business. Jupiter Asset Management Ltd. acquired a new position in Fluence Energy in the 1st quarter worth about $3,247,000. SageView Advisory Group LLC acquired a new position in shares of Fluence Energy during the first quarter valued at approximately $78,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Fluence Energy by 21.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock valued at $75,086,000 after acquiring an additional 757,105 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Fluence Energy by 8.5% during the first quarter. ProShare Advisors LLC now owns 10,539 shares of the company’s stock valued at $183,000 after acquiring an additional 830 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Fluence Energy by 62.5% during the first quarter. Avantax Advisory Services Inc. now owns 20,515 shares of the company’s stock valued at $356,000 after acquiring an additional 7,890 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.