Fluence Energy (NASDAQ:FLNC) Given New $11.00 Price Target at Susquehanna

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price increased by equities researchers at Susquehanna from $6.00 to $11.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "positive" rating on the stock. Susquehanna's price objective indicates a potential upside of 7.74% from the stock's previous close.

Several other research analysts have also commented on FLNC. Jefferies Financial Group reaffirmed an "underperform" rating and issued a $6.00 price target on shares of Fluence Energy in a report on Friday, July 11th. The Goldman Sachs Group decreased their price objective on Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 9th. BMO Capital Markets set a $5.00 price target on Fluence Energy and gave the company a "market perform" rating in a report on Wednesday, June 25th. Guggenheim decreased their price objective on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Finally, Canaccord Genuity Group dropped their price target on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.98.

Fluence Energy Stock Up 7.1%

FLNC stock traded up $0.68 during trading on Monday, hitting $10.21. 6,369,588 shares of the company's stock were exchanged, compared to its average volume of 3,977,998. The business has a 50-day moving average price of $6.17 and a two-hundred day moving average price of $7.14. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -46.41 and a beta of 2.65. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $24.00. 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). The business had revenue of $431.62 million for the quarter, compared to analysts' expectations of $328.17 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 down 30.7% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. As a group, equities research analysts expect that Fluence Energy will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director Cynthia A. Arnold purchased 33,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased 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 approximately $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLNC. Counterpoint Mutual Funds LLC purchased a new position in shares of Fluence Energy in the 2nd quarter worth about $477,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Fluence Energy by 10.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,967 shares of the company's stock worth $194,000 after acquiring an additional 2,669 shares during the last quarter. Parallel Advisors LLC purchased a new stake in shares of Fluence Energy in the 2nd quarter valued at $30,000. Strs Ohio bought a new position in shares of Fluence Energy during the 1st quarter valued at $93,000. Finally, Voleon Capital Management LP bought a new stake in Fluence Energy in the first quarter worth $55,000. 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.