Fluence Energy, Inc. (NASDAQ:FLNC) Receives $28.56 Consensus PT from Brokerages

Fluence Energy, Inc. (NASDAQ:FLNC) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $28.56.

FLNC has been the topic of a number of research reports. BMO Capital Markets raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Tuesday, January 16th. Susquehanna raised Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target for the company in a report on Monday, February 26th. Bank of America increased their price objective on Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. raised Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Friday, February 23rd. Finally, Piper Sandler reduced their price objective on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th.

Fluence Energy Price Performance

Shares of FLNC opened at $16.85 on Monday. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -31.79 and a beta of 2.57. The business’s 50-day moving average is $15.86 and its 200-day moving average is $19.17. Fluence Energy has a fifty-two week low of $13.03 and a fifty-two week high of $31.32.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The company had revenue of $363.96 million during the quarter, compared to analyst estimates of $403.93 million. During the same quarter in the prior year, the company posted ($0.21) EPS. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities research analysts expect that Fluence Energy will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in Fluence Energy by 6.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock worth $326,000 after purchasing an additional 849 shares in the last quarter. Renaissance Capital LLC increased its stake in shares of Fluence Energy by 3.0% in the first quarter. Renaissance Capital LLC now owns 38,243 shares of the company’s stock valued at $663,000 after buying an additional 1,111 shares during the period. National Bank of Canada FI acquired a new stake in Fluence Energy during the 3rd quarter worth approximately $27,000. Commonwealth Equity Services LLC grew its holdings in Fluence Energy by 11.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,619 shares of the company’s stock worth $267,000 after acquiring an additional 1,202 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Fluence Energy by 185.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after acquiring an additional 1,388 shares during the period. Institutional investors own 53.16% of the company’s stock.

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.