Fluence Energy’s (FLNC) Hold Rating Reiterated at Johnson Rice

Johnson Rice reaffirmed their hold rating on shares of Fluence Energy (NASDAQ:FLNC) in a research note released on Monday, MarketBeat reports. Johnson Rice currently has a $18.00 price objective on the stock.

A number of other research analysts have also recently weighed in on FLNC. Citigroup boosted their target price on shares of Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. BNP Paribas Exane reaffirmed an “underperform” rating and issued a $9.00 price target on shares of Fluence Energy in a report on Tuesday, October 21st. Jefferies Financial Group upgraded Fluence Energy from an “underperform” rating to a “hold” rating and upped their price objective for the company from $11.00 to $16.00 in a research note on Wednesday, November 26th. Bank of America increased their price objective on Fluence Energy from $11.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Finally, Canaccord Genuity Group raised their target price on Fluence Energy from $10.00 to $25.00 and gave the stock a “buy” rating in a research report 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’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $13.28.

Fluence Energy Stock Down 0.5%

Shares of NASDAQ:FLNC opened at $23.81 on Monday. Fluence Energy has a 1 year low of $3.46 and a 1 year high of $24.79. The company has a market capitalization of $4.35 billion, a PE ratio of -56.69 and a beta of 2.88. The business has a fifty day moving average price of $18.46 and a two-hundred day moving average price of $11.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.51 and a quick ratio of 1.17.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Canal Insurance CO raised its stake in Fluence Energy by 16.0% in the second quarter. Canal Insurance CO now owns 580,000 shares of the company’s stock valued at $3,892,000 after purchasing an additional 80,000 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Fluence Energy by 32.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 509,363 shares of the company’s stock worth $3,157,000 after buying an additional 124,203 shares in the last quarter. Hsbc Holdings PLC grew its stake in Fluence Energy by 616.2% in the 1st quarter. Hsbc Holdings PLC now owns 140,534 shares of the company’s stock worth $669,000 after buying an additional 120,913 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Fluence Energy in the 2nd quarter worth $160,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in shares of Fluence Energy during the 2nd quarter valued at $477,000. 53.16% of the stock is owned by institutional investors.

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.