Bank of America Issues Positive Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price target raised by equities researchers at Bank of America from $17.00 to $25.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 3.86% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group lifted their price objective on Fluence Energy from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Jefferies Financial Group upgraded shares of Fluence Energy from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $11.00 to $16.00 in a report on Wednesday, November 26th. Mizuho restated an “underperform” rating and set a $15.00 price target (up from $9.00) on shares of Fluence Energy in a research report on Monday. Susquehanna increased their target price on shares of Fluence Energy from $17.00 to $20.00 and gave the stock a “positive” rating in a report on Wednesday, November 26th. Finally, Morgan Stanley upped their target price on shares of Fluence Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.28.

Fluence Energy Price Performance

NASDAQ FLNC traded up $1.21 on Tuesday, hitting $24.07. The company had a trading volume of 2,722,931 shares, compared to its average volume of 5,912,378. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.51 and a quick ratio of 1.17. The company has a market capitalization of $4.40 billion, a PE ratio of -57.31 and a beta of 2.88. Fluence Energy has a 12-month low of $3.46 and a 12-month high of $24.79. The company’s fifty day moving average price is $17.99 and its 200-day moving average price is $11.13.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business earned $0.34 EPS. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, analysts predict that Fluence Energy will post 0.08 earnings per share for the current year.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in Fluence Energy by 8.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 13,452 shares of the company’s stock worth $160,000 after buying an additional 1,063 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Fluence Energy by 1.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,185 shares of the company’s stock valued at $1,082,000 after acquiring an additional 1,082 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Fluence Energy by 25.7% during the second quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock worth $52,000 after acquiring an additional 1,586 shares during the last quarter. TFB Advisors LLC increased its holdings in shares of Fluence Energy by 13.8% in the 3rd quarter. TFB Advisors LLC now owns 18,253 shares of the company’s stock valued at $197,000 after acquiring an additional 2,215 shares during the period. Finally, Creative Planning increased its holdings in shares of Fluence Energy by 16.0% in the 3rd quarter. Creative Planning now owns 18,819 shares of the company’s stock valued at $203,000 after acquiring an additional 2,596 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.