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

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its price objective raised by equities researchers at Susquehanna from $6.00 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's target price would suggest a potential upside of 19.49% from the stock's current price.

FLNC has been the topic of several other reports. Canaccord Genuity Group dropped their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley upped their price objective on shares of Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Piper Sandler reduced their price target on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Robert W. Baird cut their target price on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Hsbc Global Res lowered Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $7.98.

Fluence Energy Trading Down 2.5%

NASDAQ:FLNC traded down $0.23 during mid-day trading on Monday, hitting $9.21. 2,389,528 shares of the company's stock were exchanged, compared to its average volume of 5,408,875. The company has a 50 day simple moving average of $6.34 and a 200-day simple moving average of $7.17. 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 has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The firm has a market capitalization of $1.67 billion, a P/E ratio of -41.89 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). Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The business had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. During the same quarter last year, the firm posted ($0.07) EPS. The business's revenue for the quarter was down 30.7% compared to the same quarter last year. As a group, research analysts expect that Fluence Energy will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the acquisition, the director directly owned 86,202 shares in the company, valued at $508,591.80. This trade represents a 62.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of the stock. CenterBook Partners LP acquired a new position in shares of Fluence Energy in the 1st quarter worth approximately $12,458,000. Goldman Sachs Group Inc. boosted its position in Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after purchasing an additional 2,076,668 shares during the period. Zimmer Partners LP boosted its position in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after purchasing an additional 1,894,301 shares during the period. Webs Creek Capital Management LP acquired a new position in Fluence Energy during the 4th quarter valued at approximately $15,118,000. Finally, Edgestream Partners L.P. acquired a new position in Fluence Energy during the 1st quarter valued at approximately $4,180,000. 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.