Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Rating of "Hold" from Analysts

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) have earned a consensus rating of "Hold" from the twenty-five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.12.

FLNC has been the topic of several recent analyst reports. Guggenheim dropped their target price on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Canaccord Genuity Group lowered their target price on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Mizuho cut their price target on Fluence Energy from $7.00 to $6.00 and set an "outperform" rating for the company in a report on Monday, June 2nd. Robert W. Baird lowered their price objective on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group cut shares of Fluence Energy from a "hold" rating to an "underperform" rating and cut their target price for the company from $4.00 to $3.00 in a research note on Thursday, May 15th.

Fluence Energy Stock Up 5.0%

NASDAQ FLNC traded up $0.28 during trading on Friday, hitting $5.90. 3,516,871 shares of the company traded hands, compared to its average volume of 3,756,615. The company has a market capitalization of $1.07 billion, a P/E ratio of -26.82 and a beta of 2.51. The business has a fifty day simple moving average of $4.71 and a 200 day simple moving average of $8.35. Fluence Energy has a 12 month low of $3.46 and a 12 month high of $24.00. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its 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 company had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. During the same period in the previous year, the company earned ($0.07) EPS. The firm's revenue for the quarter was down 30.7% compared to the same quarter last year. As a group, sell-side analysts predict that Fluence Energy will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Cynthia A. Arnold purchased 33,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $5.90 per share, with a total value of $194,700.00. Following the purchase, the director now directly owns 86,202 shares of the company's stock, valued at $508,591.80. This trade represents a 62.03% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. Vanguard Group Inc. grew its stake in shares of Fluence Energy by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock valued at $99,287,000 after buying an additional 110,256 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 during the period. CenterBook Partners LP acquired a new position in shares of Fluence Energy during the 1st quarter worth approximately $12,458,000. Zimmer Partners LP increased its holdings in shares of Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after purchasing an additional 1,894,301 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock valued at $29,367,000 after buying an additional 296,325 shares in 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.