Fluence Energy (NASDAQ:FLNC) Reaches New 12-Month High – Should You Buy?

Fluence Energy, Inc. (NASDAQ:FLNC) reached a new 52-week high during trading on Thursday . The stock traded as high as $24.90 and last traded at $25.0260, with a volume of 2602946 shares changing hands. The stock had previously closed at $23.81.

Analysts Set New Price Targets

FLNC has been the topic of several research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Fluence Energy in a research note on Monday. Susquehanna increased their price target on Fluence Energy from $17.00 to $20.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Johnson Rice restated a “hold” rating and set a $18.00 price objective on shares of Fluence Energy in a research report on Monday. The Goldman Sachs Group upped their price objective on Fluence Energy from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, Jefferies Financial Group upgraded Fluence Energy from an “underperform” rating to a “hold” rating and raised their target price for the company from $11.00 to $16.00 in a research note on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $13.28.

Fluence Energy Stock Performance

The company has a market cap of $4.72 billion, a P/E ratio of -61.40 and a beta of 2.88. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average price of $18.46 and a 200-day moving average price of $11.35.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.39 billion. Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. Equities analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. Dragoneer Investment Group LLC bought a new position in Fluence Energy during the 3rd quarter valued at $65,883,000. Goldman Sachs Group Inc. boosted its stake in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after buying an additional 2,076,668 shares in the last quarter. SG Americas Securities LLC grew its holdings in Fluence Energy by 1,794.8% during the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock worth $12,539,000 after acquiring an additional 1,770,090 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Fluence Energy in the 3rd quarter valued at about $14,207,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fluence Energy during the 3rd quarter valued at about $12,901,000. Institutional investors own 53.16% of the company’s stock.

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.