Fluence Energy, Inc. (NASDAQ:FLNC) Receives $26.65 Average PT from Brokerages

Fluence Energy, Inc. (NASDAQ:FLNC) has received an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.65.

Several equities analysts have recently commented on the stock. Susquehanna increased their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group assumed coverage on Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Royal Bank of Canada reduced their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Finally, Canaccord Genuity Group decreased their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 29th.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PARK CIRCLE Co acquired a new position in shares of Fluence Energy during the 2nd quarter valued at $28,000. US Bancorp DE boosted its stake in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares in the last quarter. CWM LLC grew its holdings in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd bought a new stake in Fluence Energy in the third quarter worth about $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy in the 3rd quarter valued at about $87,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Down 3.3 %

Shares of FLNC opened at $15.88 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 122.15, a PEG ratio of 0.54 and a beta of 2.39. The business’s 50 day moving average is $18.84 and its two-hundred day moving average is $18.80. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The business’s revenue was up 82.5% compared to the same quarter last year. On average, equities analysts expect that Fluence Energy will post 0.56 earnings per share for the current fiscal year.

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.