Fluence Energy, Inc. (NASDAQ:FLNC) Receives $8.12 Average PT from Analysts

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have received a consensus rating of “Hold” from the twenty-five research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $7.88.

FLNC has been the topic of a number of recent analyst reports. Mizuho cut their price objective on shares of Fluence Energy from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Monday, June 2nd. UBS Group boosted their price target on Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Guggenheim cut their target price on Fluence Energy from $6.00 to $2.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. HSBC lowered Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research report on Monday, April 28th. Finally, Susquehanna cut their price target on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a report on Monday, April 14th.

Insider Transactions at Fluence Energy

In related news, Director Cynthia A. Arnold purchased 33,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director now owns 86,202 shares of the company’s stock, valued at $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after acquiring an additional 110,256 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after acquiring an additional 2,076,668 shares during the period. CenterBook Partners LP acquired a new stake in shares of Fluence Energy in the first quarter valued at approximately $12,458,000. Zimmer Partners LP increased its stake in shares of Fluence Energy by 757.7% in the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after purchasing an additional 1,894,301 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after purchasing an additional 296,325 shares during the period. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

Fluence Energy stock opened at $6.14 on Friday. The stock’s 50 day moving average price is $4.90 and its 200 day moving average price is $8.16. The firm has a market capitalization of $1.11 billion, a PE ratio of -27.91 and a beta of 2.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51. Fluence Energy has a one year low of $3.46 and a one year high of $24.00.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The firm had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was down 30.7% on a year-over-year basis. As a group, sell-side analysts expect that Fluence Energy will post 0.08 EPS for the current fiscal 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.