Morgan Stanley Issues Positive Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price objective hoisted by Morgan Stanley from $4.00 to $5.00 in a report issued on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the stock. Hsbc Global Res cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Roth Capital lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. HSBC lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research report on Monday, April 28th. UBS Group raised 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. Finally, Guggenheim reduced their price target on shares of Fluence Energy from $6.00 to $2.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy presently has a consensus rating of “Hold” and an average target price of $8.21.

Fluence Energy Stock Down 6.5%

NASDAQ:FLNC opened at $5.01 on Monday. Fluence Energy has a fifty-two week low of $3.46 and a fifty-two week high of $26.12. The stock has a market capitalization of $909.56 million, a P/E ratio of -100.20 and a beta of 2.49. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The company’s 50-day simple moving average is $4.60 and its 200-day simple moving average is $10.89.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The company 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 0.36% and a negative net margin of 0.08%. The firm’s revenue for the quarter was down 30.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) earnings per share. On average, equities analysts anticipate that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Cynthia A. Arnold bought 33,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the purchase, the director now owns 86,202 shares of the company’s stock, valued at approximately $508,591.80. This represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the purchase, the director now directly owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This trade represents a 9.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds have recently added to or reduced their stakes in FLNC. Altshuler Shaham Ltd purchased a new position in Fluence Energy in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. increased its stake in Fluence Energy by 462.6% in the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company’s stock valued at $39,000 after purchasing an additional 6,648 shares during the last quarter. TFB Advisors LLC purchased a new position in shares of Fluence Energy during the first quarter worth approximately $53,000. Voleon Capital Management LP purchased a new position in shares of Fluence Energy during the first quarter worth approximately $55,000. Finally, Silverlake Wealth Management LLC purchased a new position in shares of Fluence Energy during the first quarter worth approximately $56,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.