Fluence Energy (NASDAQ:FLNC) Price Target Cut to $8.00 by Analysts at Barclays

Key Points

• Barclays has cut its price target for Fluence Energy from $9.00 to $8.00, maintaining an "equal weight" rating on the stock, suggesting an expected upside of 8.55% from its current price.
• HSBC and Goldman Sachs also made downward adjustments, with HSBC lowering its rating to "hold" with a $4.00 target, and Goldman Sachs setting their target at $8.00 while maintaining a "buy" rating.
• Fluence Energy's stock experienced a significant decline during trading, closing at $7.37, despite reporting a revenue increase of 24.7% year-over-year for the latest quarter.

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its price target dropped by investment analysts at Barclays from $9.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective points to a potential upside of 8.55% from the company's current price.

Several other equities analysts have also issued reports on the company. HSBC lowered Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research note on Monday, April 28th. UBS Group raised their price objective on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Hsbc Global Res downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. The Goldman Sachs Group cut their price objective on Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Guggenheim cut their price objective on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $7.93.

Fluence Energy Stock Performance

Shares of FLNC traded down $1.77 during mid-day trading on Tuesday, reaching $7.37. The company's stock had a trading volume of 10,155,845 shares, compared to its average volume of 5,282,345. Fluence Energy has a 1-year low of $3.46 and a 1-year high of $24.00. The stock has a market cap of $1.34 billion, a P/E ratio of -33.50 and a beta of 2.67. The business has a 50-day simple moving average of $7.31 and a two-hundred day simple moving average of $6.43. 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 Monday, August 11th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. The company had revenue of $602.53 million for the quarter, compared to analyst estimates of $738.52 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The company's revenue for the quarter was up 24.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors have recently made changes to their positions in FLNC. Geode Capital Management LLC lifted its position in shares of Fluence Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company's stock worth $24,035,000 after acquiring an additional 5,216 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Fluence Energy by 47.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock worth $211,000 after buying an additional 4,285 shares in the last quarter. Bank of Montreal Can grew its position in Fluence Energy by 142.4% during the fourth quarter. Bank of Montreal Can now owns 78,950 shares of the company's stock worth $1,254,000 after buying an additional 46,376 shares in the last quarter. Invesco Ltd. grew its position in Fluence Energy by 28.7% during the fourth quarter. Invesco Ltd. now owns 366,513 shares of the company's stock worth $5,820,000 after buying an additional 81,692 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Fluence Energy during the fourth quarter worth about $2,233,000. 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.

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