Fluence Energy (NASDAQ:FLNC) Given a $5.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $5.00 price target on Fluence Energy (NASDAQ:FLNC - Free Report) in a report released on Wednesday morning, Marketbeat reports. The brokerage currently has a market perform rating on the stock.

FLNC has been the subject of a number of other reports. Guggenheim reduced their target price on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group downgraded shares of Fluence Energy from a "hold" rating to an "underperform" rating and dropped their target price for the stock from $4.00 to $3.00 in a research report on Thursday, May 15th. HSBC downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a research report on Monday, April 28th. Barclays reissued an "equal weight" rating and issued a $5.00 target price (down from $9.00) on shares of Fluence Energy in a research report on Tuesday, April 8th. Finally, Morgan Stanley lifted their target price on shares of Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $7.88.

Fluence Energy Price Performance

NASDAQ:FLNC traded down $0.16 during trading hours on Wednesday, reaching $6.14. 5,993,143 shares of the company's stock were exchanged, compared to its average volume of 3,808,350. The company has a market capitalization of $1.11 billion, a P/E ratio of -27.91 and a beta of 2.51. Fluence Energy has a 12 month low of $3.46 and a 12 month high of $24.00. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The business's 50-day simple moving average is $4.90 and its two-hundred day simple moving average is $8.10.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). The business had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The company's quarterly revenue was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Sell-side analysts expect that Fluence Energy will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of Fluence Energy stock in a transaction on Monday, May 12th. The stock was 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 directly owns 86,202 shares of the company's stock, valued at $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.65% of the company's stock.

Institutional Trading of Fluence Energy

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its position in shares of Fluence Energy by 14.5% in the fourth quarter. New York State Common Retirement Fund now owns 18,995 shares of the company's stock valued at $302,000 after purchasing an additional 2,400 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Fluence Energy by 18.0% in the fourth quarter. Bank of New York Mellon Corp now owns 199,575 shares of the company's stock worth $3,169,000 after buying an additional 30,480 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Fluence Energy in the fourth quarter worth $546,000. Jones Financial Companies Lllp lifted its stake in shares of Fluence Energy by 31.3% in the fourth quarter. Jones Financial Companies Lllp now owns 23,331 shares of the company's stock worth $370,000 after buying an additional 5,560 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Fluence Energy by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 523,872 shares of the company's stock worth $8,319,000 after buying an additional 21,932 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.