Fluence Energy, Inc. (NASDAQ:FLNC) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been given an average recommendation of “Reduce” by the twenty-six research firms that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $13.5435.

Several research analysts recently issued reports on FLNC shares. Susquehanna raised their target price on Fluence Energy from $17.00 to $20.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Roth Capital raised their price objective on Fluence Energy from $7.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Canaccord Genuity Group lifted their price objective on Fluence Energy from $10.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Fluence Energy in a research report on Monday. Finally, Citigroup raised their price target on shares of Fluence Energy from $7.50 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd.

Fluence Energy Stock Down 12.9%

Shares of NASDAQ FLNC opened at $18.57 on Friday. The company has a 50 day simple moving average of $19.23 and a 200 day simple moving average of $11.95. 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 has a 1 year low of $3.46 and a 1 year high of $25.85. The firm has a market cap of $3.40 billion, a PE ratio of -44.21 and a beta of 2.88.

Fluence Energy (NASDAQ:FLNC) last released its quarterly 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). 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 net margin of 2.14% and a negative return on equity of 9.21%. Fluence Energy’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. On average, research analysts forecast that Fluence Energy will post 0.08 EPS for the current year.

Institutional Trading of Fluence Energy

A number of institutional investors have recently bought and sold shares of the company. Dragoneer Investment Group LLC acquired a new stake in Fluence Energy during the 3rd quarter worth about $65,883,000. Goldman Sachs Group Inc. grew its stake in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the period. Millennium Management LLC increased its holdings in Fluence Energy by 11.3% in the third quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock worth $24,114,000 after purchasing an additional 227,080 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in Fluence Energy by 82.6% in the third quarter. Voloridge Investment Management LLC now owns 1,965,083 shares of the company’s stock valued at $21,223,000 after buying an additional 888,893 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Fluence Energy by 1,794.8% during the 2nd quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock worth $12,539,000 after buying an additional 1,770,090 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

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.