Analysts Set Fluence Energy, Inc. (NASDAQ:FLNC) PT at $28.56

Fluence Energy, Inc. (NASDAQ:FLNC) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $28.56.

A number of equities analysts have recently commented on the company. Susquehanna raised Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target for the company in a report on Monday, February 26th. The Goldman Sachs Group lowered their price target on Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Bank of America boosted their price target on Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. raised Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Friday, February 23rd. Finally, Raymond James raised Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Wednesday, April 3rd.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently made changes to their positions in FLNC. National Bank of Canada FI bought a new stake in shares of Fluence Energy in the 3rd quarter valued at about $27,000. SG Americas Securities LLC bought a new stake in shares of Fluence Energy during the 3rd quarter valued at about $192,000. Handelsbanken Fonder AB boosted its position in shares of Fluence Energy by 23.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,173,244 shares of the company’s stock valued at $26,973,000 after purchasing an additional 226,419 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Fluence Energy by 11.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,619 shares of the company’s stock valued at $267,000 after purchasing an additional 1,202 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after purchasing an additional 1,388 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

Shares of NASDAQ FLNC opened at $16.84 on Monday. The stock has a market capitalization of $3.01 billion, a PE ratio of -31.77 and a beta of 2.57. The business has a fifty day moving average price of $15.98 and a two-hundred day moving average price of $19.27. Fluence Energy has a fifty-two week low of $13.03 and a fifty-two week high of $31.32.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The business had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. During the same period last year, the firm posted ($0.21) EPS. Fluence Energy’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities analysts expect that Fluence Energy will post 0.14 EPS for the current 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.