Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Recommendation of “Hold” from Analysts

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been given an average rating of “Hold” by the twenty-five analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.88.

Several equities research analysts have issued reports on the stock. Susquehanna lowered their target price on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Morgan Stanley lifted their target price on shares of Fluence Energy from $4.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. UBS Group boosted their price target on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Mizuho lowered their price target on shares of Fluence Energy from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of Fluence Energy from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 9th.

Insider Activity

In related news, Director Cynthia A. Arnold bought 33,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were bought at an average price of $5.90 per share, with a total value of $194,700.00. Following the completion of the transaction, the director now directly owns 86,202 shares of the company’s stock, valued at $508,591.80. This represents a 62.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently made changes to their positions in FLNC. Altshuler Shaham Ltd acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. lifted its stake in Fluence Energy by 462.6% during the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company’s stock worth $39,000 after purchasing an additional 6,648 shares in the last quarter. TFB Advisors LLC acquired a new position in Fluence Energy during the first quarter worth $53,000. Voleon Capital Management LP acquired a new position in Fluence Energy during the first quarter worth $55,000. Finally, Silverlake Wealth Management LLC acquired a new position in Fluence Energy during the 1st quarter worth about $56,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Up 4.9%

Shares of NASDAQ FLNC opened at $6.19 on Friday. The company’s 50-day simple moving average is $4.80 and its 200-day simple moving average is $8.31. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $24.00. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -28.14 and a beta of 2.51. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The company’s quarterly revenue was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Equities analysts predict that Fluence Energy will post 0.08 EPS for the current fiscal year.

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.