Fluence Energy (NASDAQ:FLNC) Price Target Raised to $11.00

Fluence Energy (NASDAQ:FLNC) had its target price lifted by investment analysts at Susquehanna from $6.00 to $11.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 15.07% from the company’s previous close.

Several other brokerages also recently commented on FLNC. UBS Group increased their price target on Fluence Energy from $4.50 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Piper Sandler cut their price target on Fluence Energy from $10.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $6.00 price target on shares of Fluence Energy in a report on Friday, July 11th. Hsbc Global Res cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, BMO Capital Markets set a $5.00 price target on Fluence Energy and gave the company a “market perform” rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy presently has a consensus rating of “Hold” and an average price target of $7.93.

Fluence Energy Trading Up 6.7%

FLNC stock traded up $0.60 during mid-day trading on Monday, reaching $9.56. 1,946,880 shares of the stock traded hands, compared to its average volume of 3,952,739. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $24.00. The company has a market cap of $1.74 billion, a P/E ratio of -43.44 and a beta of 2.65. The stock’s fifty day moving average is $6.09 and its 200-day moving average is $7.19.

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

Insider Buying and Selling

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the acquisition, the director directly owned 86,202 shares in the company, valued at $508,591.80. This represents a 62.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluence Energy

Large investors have recently modified their holdings of the stock. Duff & Phelps Investment Management Co. raised its position in shares of Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after acquiring an additional 1,432 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Fluence Energy by 0.4% during the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company’s stock worth $6,988,000 after acquiring an additional 1,734 shares during the last quarter. Swiss National Bank raised its position in shares of Fluence Energy by 1.4% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company’s stock worth $2,014,000 after acquiring an additional 1,800 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Fluence Energy during the fourth quarter worth about $34,000. Finally, Alps Advisors Inc. raised its position in shares of Fluence Energy by 2.5% during the first quarter. Alps Advisors Inc. now owns 99,891 shares of the company’s stock worth $484,000 after acquiring an additional 2,444 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

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.