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

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) has received an average recommendation of "Hold" from the twenty-four brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.78.

Several equities analysts have recently weighed in on the stock. Susquehanna reduced their target price on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating for the company in a research note on Monday, April 14th. BMO Capital Markets set a $5.00 target price on shares of Fluence Energy and gave the stock a "market perform" rating in a research note on Wednesday, June 25th. UBS Group boosted their price objective on shares of Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Barclays boosted their price objective on shares of Fluence Energy from $5.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th.

Fluence Energy Trading Up 8.7%

NASDAQ FLNC traded up $0.72 on Wednesday, hitting $8.96. The company's stock had a trading volume of 5,297,758 shares, compared to its average volume of 3,954,747. The company's 50-day moving average is $6.09 and its 200 day moving average is $7.32. The firm has a market cap of $1.63 billion, a PE ratio of -40.73 and a beta of 2.65. Fluence Energy has a 1-year low of $3.46 and a 1-year 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.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $431.62 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) earnings per share. As a group, analysts predict that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Cynthia A. Arnold acquired 33,000 shares of the stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director owned 86,202 shares in the company, valued at approximately $508,591.80. This trade represents a 62.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently modified their holdings of FLNC. Millennium Management LLC increased its position in shares of Fluence Energy by 257.2% during the 4th quarter. Millennium Management LLC now owns 720,828 shares of the company's stock worth $11,447,000 after purchasing an additional 519,049 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Fluence Energy during the 4th quarter worth about $1,221,000. Janney Montgomery Scott LLC acquired a new stake in shares of Fluence Energy during the 1st quarter worth about $403,000. Trexquant Investment LP increased its position in shares of Fluence Energy by 577.5% during the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock worth $13,918,000 after purchasing an additional 747,103 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Fluence Energy during the 1st quarter worth about $128,000. 53.16% of the stock is 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.