Fluence Energy (NASDAQ:FLNC) Downgraded to Moderate Sell Rating by Hsbc Global Res

Key Points

• Fluence Energy has been downgraded from a "hold" to a "moderate sell" rating by HSBC Global Research, reflecting a more cautious outlook on the company's stock performance.
• The average rating for Fluence Energy is currently "Hold," with a consensus price target of $7.98, indicating varying opinions among analysts.
• Despite recent challenges, Fluence Energy reported a 24.7% increase in quarterly revenue year-over-year, although it fell short of analysts' expectations.

Fluence Energy (NASDAQ:FLNC - Get Free Report) was downgraded by analysts at Hsbc Global Res from a "hold" rating to a "moderate sell" rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently weighed in on FLNC. Guggenheim decreased their target price on Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Susquehanna raised their target price on Fluence Energy from $6.00 to $11.00 and gave the company a "positive" rating in a research note on Monday, July 21st. HSBC cut Fluence Energy from a "hold" rating to a "reduce" rating and set a $5.00 target price for the company. in a research note on Wednesday. Canaccord Genuity Group reduced their target price on Fluence Energy from $14.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Mizuho reaffirmed a "neutral" rating and set a $10.00 target price (up from $6.00) on shares of Fluence Energy in a report on Monday, July 14th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Fluence Energy presently has an average rating of "Hold" and a consensus price target of $7.98.

Fluence Energy Trading Up 2.4%

Shares of FLNC stock opened at $7.55 on Wednesday. The stock has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $6.44. Fluence Energy has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The stock has a market capitalization of $1.37 billion, a P/E ratio of -35.95 and a beta of 2.67. The company has a quick ratio of 0.99, a current ratio of 1.64 and a debt-to-equity ratio of 0.75.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%. The business had revenue of $602.53 million during the quarter, compared to analysts' expectations of $738.52 million. The business's quarterly revenue was up 24.7% compared to the same quarter last year. On average, sell-side analysts expect that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently bought and sold shares of FLNC. Parallel Advisors LLC purchased a new stake in Fluence Energy in the 2nd quarter worth about $30,000. Altshuler Shaham Ltd purchased a new stake in Fluence Energy in the 4th quarter worth about $34,000. SBI Securities Co. Ltd. lifted its stake in Fluence Energy by 462.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock worth $39,000 after acquiring an additional 6,648 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Fluence Energy by 25.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company's stock worth $52,000 after purchasing an additional 1,586 shares during the last quarter. Finally, TFB Advisors LLC acquired a new position in Fluence Energy in the 1st quarter worth about $53,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.

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