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

Fluence Energy, Inc. (NASDAQ:FLNCGet Free Report) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $28.35.

A number of research firms recently issued reports on FLNC. Truist Financial began coverage on Fluence Energy in a research note on Wednesday. They set a “buy” rating and a $25.00 price target on the stock. Piper Sandler dropped their price target on Fluence Energy from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, May 10th. Guggenheim downgraded Fluence Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, June 6th. The Goldman Sachs Group dropped their price target on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Evercore ISI dropped their price target on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th.

Read Our Latest Stock Analysis on FLNC

Fluence Energy Price Performance

FLNC stock opened at $17.24 on Friday. The firm has a market capitalization of $3.09 billion, a P/E ratio of -44.20 and a beta of 2.50. The business’s 50-day moving average is $20.12 and its two-hundred day moving average is $18.94. Fluence Energy has a 1 year low of $13.03 and a 1 year high of $31.32.

Fluence Energy (NASDAQ:FLNCGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) EPS 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 business had revenue of $623.14 million for the quarter, compared to the consensus estimate of $538.42 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. On average, analysts expect that Fluence Energy will post 0.11 EPS for the current year.

Institutional Trading of Fluence Energy

Several hedge funds have recently modified their holdings of the business. Pflug Koory LLC acquired a new position in Fluence Energy during the first quarter worth $35,000. Quarry LP acquired a new position in Fluence Energy during the fourth quarter worth $38,000. Baillie Gifford & Co. acquired a new position in Fluence Energy during the first quarter worth $38,000. GAMMA Investing LLC raised its holdings in Fluence Energy by 264.9% during the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after purchasing an additional 2,146 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Fluence Energy during the fourth quarter worth $60,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Company Profile

(Get Free Report

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.

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Analyst Recommendations for Fluence Energy (NASDAQ:FLNC)

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