Fluence Energy (NASDAQ:FLNC - Free Report) had its price target raised by Barclays from $5.00 to $9.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.
A number of other analysts have also commented on the company. Jefferies Financial Group reiterated an "underperform" rating and set a $6.00 price target on shares of Fluence Energy in a report on Friday, July 11th. Mizuho restated a "neutral" rating and set a $10.00 price target (up previously from $6.00) on shares of Fluence Energy in a research note on Monday, July 14th. UBS Group boosted their target price on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Morgan Stanley upped their price target on Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. lowered Fluence Energy from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $14.00 to $7.00 in a report on Friday, April 11th. Two equities 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's stock. Based on data from MarketBeat.com, Fluence Energy currently has an average rating of "Hold" and a consensus target price of $7.78.
Check Out Our Latest Research Report on FLNC
Fluence Energy Stock Performance
NASDAQ:FLNC traded up $0.72 on Thursday, hitting $8.96. The company's stock had a trading volume of 5,297,758 shares, compared to its average volume of 3,959,751. The firm has a market capitalization of $1.63 billion, a P/E ratio of -40.73 and a beta of 2.65. 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 has a one year low of $3.46 and a one year high of $24.00. The stock has a fifty day moving average of $6.09 and a two-hundred day moving average of $7.26.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $328.17 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The business's revenue for the quarter was down 30.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) earnings per share. Research analysts predict that Fluence Energy will post 0.08 earnings per share for the current year.
Insider Activity
In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction on Monday, May 12th. The stock was bought 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 of the company's stock, valued at $508,591.80. The trade was a 62.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.65% of the stock is currently owned by insiders.
Institutional Trading of Fluence Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in Fluence Energy by 257.2% in the fourth quarter. Millennium Management LLC now owns 720,828 shares of the company's stock valued at $11,447,000 after purchasing an additional 519,049 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Fluence Energy during the 4th quarter worth $1,221,000. Janney Montgomery Scott LLC bought a new stake in shares of Fluence Energy in the 1st quarter valued at about $403,000. Trexquant Investment LP raised its stake in 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 buying an additional 747,103 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Fluence Energy in the first quarter worth approximately $128,000. Institutional investors and hedge funds own 53.16% of the company's stock.
About Fluence Energy
(
Get Free Report)
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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