Barclays Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

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 analysts at Barclays from $9.00 to $8.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target suggests a potential upside of 0.63% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group decreased their price target on shares of Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Susquehanna lifted their price target on shares of Fluence Energy from $6.00 to $11.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Morgan Stanley lifted their price target on shares of Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Guggenheim decreased their target price on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, Canaccord Genuity Group decreased their target price on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Fluence Energy presently has a consensus rating of "Hold" and a consensus target price of $7.98.

Fluence Energy Stock Up 5.0%

FLNC traded up $0.38 during midday trading on Tuesday, hitting $7.95. The company had a trading volume of 6,260,291 shares, compared to its average volume of 4,372,633. Fluence Energy has a 52 week low of $3.46 and a 52 week high of $24.00. The company has a quick ratio of 0.99, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -37.86 and a beta of 2.67. The stock's 50 day moving average price is $7.54 and its 200 day moving average price is $6.32.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly 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 net margin of 0.76% and a negative return on equity of 3.42%. The firm had revenue of $602.53 million during the quarter, compared to the consensus estimate of $738.52 million. The firm's revenue for the quarter was up 24.7% on a year-over-year basis. On average, research analysts anticipate that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Fluence Energy by 189.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after acquiring an additional 2,076,668 shares during the last quarter. CenterBook Partners LP purchased a new position in Fluence Energy in the first quarter valued at about $12,458,000. Zimmer Partners LP boosted its stake in Fluence Energy by 757.7% in the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after acquiring an additional 1,894,301 shares during the last quarter. SG Americas Securities LLC boosted its stake in Fluence Energy by 1,794.8% in the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company's stock valued at $12,539,000 after acquiring an additional 1,770,090 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fluence Energy by 10.0% in the second quarter. Geode Capital Management LLC now owns 1,683,637 shares of the company's stock valued at $11,298,000 after acquiring an additional 153,614 shares during the last quarter. 53.16% of the stock is currently 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.