Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) Target Price at $16.89

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned a consensus recommendation of “Hold” from the twenty-four brokerages that are covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $16.8945.

FLNC has been the subject of a number of analyst reports. Morgan Stanley set a $15.00 target price on shares of Fluence Energy in a research report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Fluence Energy in a research note on Wednesday, August 5th. Royal Bank Of Canada reduced their price objective on shares of Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. Mizuho decreased their price objective on Fluence Energy from $15.00 to $8.00 and set an “underperform” rating for the company in a report on Friday, September 11th. Finally, Piper Sandler assumed coverage on Fluence Energy in a research report on Tuesday, September 8th. They issued an “underweight” rating and a $6.00 target price on the stock.

Insider Buying and Selling

In other Fluence Energy news, SVP John Zahurancik sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $25.18, for a total value of $402,880.00. Following the completion of the transaction, the senior vice president directly owned 87,145 shares in the company, valued at $2,194,311.10. This trade represents a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in shares of Fluence Energy during the first quarter worth approximately $19,579,000. Handelsbanken Fonder AB bought a new position in shares of Fluence Energy during the fourth quarter worth approximately $16,964,000. Legal & General Group Plc increased its stake in shares of Fluence Energy by 882.1% during the fourth quarter. Legal & General Group Plc now owns 738,898 shares of the company’s stock worth $14,615,000 after purchasing an additional 663,660 shares during the period. Bank of America Corp DE lifted its holdings in Fluence Energy by 24.4% during the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock worth $42,460,000 after purchasing an additional 604,983 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Fluence Energy by 55.4% during the 1st quarter. First Trust Advisors LP now owns 1,131,468 shares of the company’s stock worth $15,569,000 after purchasing an additional 403,199 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Trading Down 2.7%

NASDAQ:FLNC opened at $9.05 on Monday. The company has a market cap of $1.67 billion, a P/E ratio of -14.84 and a beta of 2.74. Fluence Energy has a twelve month low of $7.26 and a twelve month high of $33.51. The business has a 50 day moving average price of $12.54 and a two-hundred day moving average price of $16.03. The company has a quick ratio of 0.89, a current ratio of 1.34 and a debt-to-equity ratio of 0.91.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $649.85 million during the quarter, compared to analyst estimates of $818.57 million. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. Fluence Energy’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $0.01 earnings per share. As a group, analysts expect that Fluence Energy will post -0.51 EPS for the current fiscal year.

About Fluence Energy

Fluence Energy, Inc is a global energy storage and software company that develops solutions to support the transition to cleaner and more reliable electricity systems. The company provides products and services for utilities, renewable energy developers, commercial and industrial customers, and other power market participants.

Its offerings include large-scale battery energy storage systems, renewable energy integration solutions, and digital applications for managing and optimizing energy assets.