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

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $28.56.

Several equities analysts have issued reports on FLNC shares. Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target on the stock in a report on Monday, February 26th. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Wednesday, April 3rd. Piper Sandler cut their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. The Goldman Sachs Group cut their price target on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research note on Friday, February 23rd.

Fluence Energy Stock Up 3.7 %

Shares of FLNC stock opened at $16.84 on Monday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -31.77 and a beta of 2.57. The company’s 50 day moving average is $15.98 and its 200 day moving average is $19.27. Fluence Energy has a 52-week low of $13.03 and a 52-week high of $31.32.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) 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 business had revenue of $363.96 million for the quarter, compared to analysts’ expectations of $403.93 million. During the same period in the previous year, the business earned ($0.21) earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts anticipate that Fluence Energy will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Fluence Energy by 41.0% during the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock valued at $131,685,000 after purchasing an additional 1,605,345 shares during the period. FMR LLC raised its position in shares of Fluence Energy by 146.9% in the third quarter. FMR LLC now owns 3,959,313 shares of the company’s stock worth $91,025,000 after acquiring an additional 2,355,849 shares during the period. Handelsbanken Fonder AB raised its position in shares of Fluence Energy by 145.5% in the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after acquiring an additional 1,706,808 shares during the period. Schroder Investment Management Group raised its position in shares of Fluence Energy by 65.2% in the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock worth $61,950,000 after acquiring an additional 1,063,609 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Fluence Energy by 20.2% in the fourth quarter. Clearbridge Investments LLC now owns 1,424,170 shares of the company’s stock worth $33,966,000 after acquiring an additional 239,772 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.