Fluence Energy (NASDAQ:FLNC) Price Target Raised to $10.00

Key Points

• Fluence Energy's price target has been raised by JPMorgan Chase & Co. from $9.00 to $10.00, indicating a potential downside of 48.07% from its previous close.
• 17 analysts have rated the stock as a Hold, while 4 analysts have given it a Sell rating according to consensus data from MarketBeat.
• Fluence Energy reported a year-over-year revenue increase of 24.7%, generating $602.53 million for the quarter, despite missing analyst estimates of $738.52 million.

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $9.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 48.07% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of Fluence Energy in a research report on Wednesday, October 8th. Mizuho restated a "neutral" rating and set a $10.00 price objective (up previously from $6.00) on shares of Fluence Energy in a research report on Monday, July 14th. Seaport Res Ptn lowered Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. BMO Capital Markets set a $5.00 price objective on Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Finally, Hsbc Global Res lowered Fluence Energy from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, Fluence Energy currently has a consensus rating of "Hold" and a consensus price target of $9.33.

Fluence Energy Price Performance

Shares of FLNC traded down $2.18 during midday trading on Thursday, hitting $19.26. The company's stock had a trading volume of 4,574,980 shares, compared to its average volume of 5,635,379. Fluence Energy has a one year low of $3.46 and a one year high of $24.00. The company's fifty day simple moving average is $9.77 and its two-hundred day simple moving average is $7.18. The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -90.69 and a beta of 2.76.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.01 earnings per share (EPS) 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 company had revenue of $602.53 million for the quarter, compared to analyst estimates of $738.52 million. The company's revenue was up 24.7% on a year-over-year basis. Fluence Energy has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of Fluence Energy by 101.7% during the first quarter. SG Americas Securities LLC now owns 98,621 shares of the company's stock worth $478,000 after acquiring an additional 49,738 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Fluence Energy during the first quarter valued at about $128,000. Janney Montgomery Scott LLC purchased a new position in shares of Fluence Energy in the first quarter worth about $403,000. Canal Insurance CO increased its holdings in shares of Fluence Energy by 66.7% in the first quarter. Canal Insurance CO now owns 500,000 shares of the company's stock worth $2,425,000 after buying an additional 200,000 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Fluence Energy by 54.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 38,005 shares of the company's stock worth $184,000 after purchasing an additional 13,427 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.