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

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) has been given an average rating of "Hold" by the twenty-four brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $7.78.

A number of research firms have issued reports on FLNC. UBS Group raised their price target on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Canaccord Genuity Group reduced their price target on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets set a $5.00 price target on shares of Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Hsbc Global Res cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, HSBC cut shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a research note on Monday, April 28th.

Fluence Energy Stock Performance

Shares of Fluence Energy stock traded up $0.37 during midday trading on Wednesday, hitting $8.61. The company had a trading volume of 644,716 shares, compared to its average volume of 3,930,793. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -39.39 and a beta of 2.65. 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 company has a fifty day simple moving average of $6.00 and a 200 day simple moving average of $7.37. Fluence Energy has a 12-month low of $3.46 and a 12-month high of $24.00.

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

Insider Transactions at Fluence Energy

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were bought at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the acquisition, the director owned 86,202 shares of the company's stock, valued at approximately $508,591.80. This trade represents a 62.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.65% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. CenterBook Partners LP purchased a new position in Fluence Energy in the 1st quarter valued at $12,458,000. Goldman Sachs Group Inc. lifted its holdings in Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after purchasing an additional 2,076,668 shares in the last quarter. Zimmer Partners LP lifted its holdings in Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after purchasing an additional 1,894,301 shares in the last quarter. Webs Creek Capital Management LP purchased a new position in Fluence Energy in the 4th quarter valued at $15,118,000. Finally, Edgestream Partners L.P. purchased a new position in Fluence Energy in the 1st quarter valued at $4,180,000. Hedge funds and other 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.