Fluence Energy (NASDAQ:FLNC) Price Target Cut to $6.00 by Analysts at Mizuho

Fluence Energy (NASDAQ:FLNC) had its target price trimmed by Mizuho from $8.00 to $6.00 in a research report sent to investors on Monday morning, Marketbeat reports. The firm currently has an underperform rating on the stock.

Several other research analysts also recently commented on FLNC. BNP Paribas Exane lowered their target price on Fluence Energy from $8.00 to $5.00 and set an “underperform” rating for the company in a research note on Thursday, September 17th. Zacks Research downgraded shares of Fluence Energy from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 10th. UBS Group raised shares of Fluence Energy from a “sell” rating to a “neutral” rating and lifted their price target for the company from $9.00 to $12.00 in a report on Tuesday, August 25th. Needham & Company LLC reiterated a “hold” rating on shares of Fluence Energy in a research report on Thursday, September 17th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $3.00 price objective (down from $10.00) on shares of Fluence Energy in a research note on Thursday, September 17th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, Fluence Energy has an average rating of “Reduce” and an average price target of $12.42.

Fluence Energy Trading Up 1.0%

Shares of FLNC stock opened at $7.39 on Monday. Fluence Energy has a fifty-two week low of $7.01 and a fifty-two week high of $33.51. The stock’s fifty day moving average price is $12.03 and its two-hundred day moving average price is $15.86. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34. The company has a market cap of $1.36 billion, a PE ratio of -12.11 and a beta of 2.74.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.The business had revenue of $649.85 million for the quarter, compared to analyst estimates of $818.57 million. During the same period last year, the firm posted $0.01 EPS. Fluence Energy’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Fluence Energy will post -1.03 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

A number of hedge funds have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in shares of Fluence Energy by 126.7% in the second quarter. Tidal Investments LLC now owns 207,694 shares of the company’s stock valued at $4,129,000 after buying an additional 116,064 shares during the period. Integrated Wealth Concepts LLC bought a new position in Fluence Energy in the 2nd quarter valued at approximately $94,000. Maven Securities LTD acquired a new stake in Fluence Energy during the 2nd quarter worth approximately $398,000. IFP Advisors Inc grew its holdings in Fluence Energy by 184.1% during the 2nd quarter. IFP Advisors Inc now owns 1,540 shares of the company’s stock worth $31,000 after acquiring an additional 998 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Fluence Energy by 0.6% during the 2nd quarter. Squarepoint Ops LLC now owns 268,318 shares of the company’s stock worth $5,334,000 after acquiring an additional 1,707 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Company Profile

Fluence Energy, Inc is a global energy storage and software company that develops solutions to support the transition to cleaner and more reliable electricity systems. The company provides products and services for utilities, renewable energy developers, commercial and industrial customers, and other power market participants.

Its offerings include large-scale battery energy storage systems, renewable energy integration solutions, and digital applications for managing and optimizing energy assets.