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

Fluence Energy, Inc. (NASDAQ:FLNC) has received an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $28.56.

Several research analysts have recently commented on FLNC shares. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Friday, February 23rd. The Goldman Sachs Group reduced their target price on Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Raymond James upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Wednesday, April 3rd. BMO Capital Markets upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research note on Tuesday, January 16th. Finally, Bank of America boosted their price target on Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, January 4th.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Fluence Energy by 41.0% during the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock valued at $131,685,000 after buying an additional 1,605,345 shares during the period. FMR LLC boosted its holdings in shares of Fluence Energy by 146.9% in the 3rd quarter. FMR LLC now owns 3,959,313 shares of the company’s stock worth $91,025,000 after purchasing an additional 2,355,849 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Fluence Energy by 145.5% in the 4th quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after purchasing an additional 1,706,808 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Fluence Energy by 65.2% in the 3rd quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock worth $61,950,000 after purchasing an additional 1,063,609 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Fluence Energy by 20.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,424,170 shares of the company’s stock worth $33,966,000 after purchasing an additional 239,772 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Shares of Fluence Energy stock opened at $16.85 on Monday. The business’s 50 day simple moving average is $15.86 and its 200 day simple moving average is $19.22. Fluence Energy has a 52-week low of $13.03 and a 52-week high of $31.32. The firm has a market cap of $3.01 billion, a PE ratio of -31.79 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. As a group, equities research analysts predict that Fluence Energy will post 0.14 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.