Barclays Forecasts Strong Price Appreciation for Fluence Energy (NASDAQ:FLNC) Stock

Fluence Energy (NASDAQ:FLNC - Free Report) had its price objective lifted by Barclays from $5.00 to $9.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the company. Guggenheim dropped their target price on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a research note on Monday, April 28th. UBS Group boosted their target price on Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Robert W. Baird lowered their price target on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group reaffirmed an "underperform" rating and set a $6.00 price target on shares of Fluence Energy in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.78.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC traded up $0.72 during trading on Thursday, hitting $8.96. 5,297,758 shares of the company's stock were exchanged, compared to its average volume of 3,959,751. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $24.00. The business's 50-day simple moving average is $6.09 and its 200 day simple moving average is $7.19. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -40.73 and a beta of 2.65.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates 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 net margin of 1.10% and a negative return on equity of 4.40%. Fluence Energy's quarterly revenue was down 30.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, equities analysts predict that Fluence Energy will post 0.08 EPS for the current year.

Insider Activity

In related news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction dated Monday, May 12th. The stock was bought at an average cost 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. The trade was a 62.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CenterBook Partners LP acquired a new position in Fluence Energy in the first quarter valued at $12,458,000. Goldman Sachs Group Inc. increased its stake in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after acquiring an additional 2,076,668 shares during the last quarter. Zimmer Partners LP increased its stake in 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 acquiring an additional 1,894,301 shares during the last quarter. Webs Creek Capital Management LP acquired a new stake in Fluence Energy during the fourth quarter worth about $15,118,000. Finally, Edgestream Partners L.P. acquired a new stake in Fluence Energy during the first quarter worth about $4,180,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

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.