Fluence Energy, Inc. (NASDAQ:FLNC) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Fluence Energy “Hold” overall: Of 24 analysts, 12 recommend holding, while six each recommend buying or selling. The average 12-month price target is approximately $16.89.
• Recent analyst sentiment has weakened, with Barclays downgrading the stock to “underweight” and cutting its target to $10, while Mizuho lowered its target to $8 and assigned an “underperform” rating.
• Fluence reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below the $818.57 million analyst expectation. Shares opened at $9.93, near the lower end of their 52-week range of $6.79 to $33.51.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) has earned a consensus rating of "Hold" from the twenty-four research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.8945.

Several research firms have recently weighed in on FLNC. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Fluence Energy in a report on Wednesday, August 5th. Barclays lowered Fluence Energy from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $16.00 to $10.00 in a report on Thursday, September 3rd. Mizuho decreased their price objective on shares of Fluence Energy from $15.00 to $8.00 and set an "underperform" rating on the stock in a research report on Friday. Truist Financial began coverage on shares of Fluence Energy in a research note on Monday, July 13th. They issued a "hold" rating and a $16.00 target price on the stock. Finally, Roth Capital set a $18.00 target price on shares of Fluence Energy in a research note on Friday, August 7th.

Fluence Energy Stock Performance

NASDAQ:FLNC opened at $9.93 on Monday. The business's fifty day moving average is $12.97 and its 200 day moving average is $16.18. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -16.28 and a beta of 2.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34. Fluence Energy has a 52-week low of $6.79 and a 52-week high of $33.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The firm had revenue of $649.85 million for the quarter, compared to analysts' expectations of $818.57 million. During the same period in the prior year, the firm posted $0.01 EPS. Fluence Energy's revenue was up 7.9% on a year-over-year basis. Research analysts predict that Fluence Energy will post -0.51 EPS for the current year.

Insider Activity at Fluence Energy

In other news, SVP John Zahurancik sold 16,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $25.18, for a total value of $402,880.00. Following the transaction, the senior vice president owned 87,145 shares of the company's stock, valued at $2,194,311.10. This represents a 15.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.69% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Curio Wealth LLC purchased a new position in shares of Fluence Energy during the 4th quarter valued at about $31,000. IFP Advisors Inc boosted its stake in Fluence Energy by 184.1% in the second quarter. IFP Advisors Inc now owns 1,540 shares of the company's stock worth $31,000 after buying an additional 998 shares in the last quarter. State of Wyoming bought a new position in Fluence Energy during the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC grew its position in Fluence Energy by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock valued at $38,000 after acquiring an additional 672 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Fluence Energy during the third quarter worth approximately $48,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

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