Fluence Energy (NASDAQ:FLNC) Raised to "Buy" at Citigroup

Key Points

• Citigroup upgraded Fluence Energy from “neutral” to “buy” and set a $24 price target, implying about 57% upside from the current share price.
• Analyst opinions remain mixed overall: the stock’s consensus rating is “Hold” with an average target price of $19.53, even as several firms recently issued bullish calls.
• Fluence Energy recently reported better-than-expected EPS but missed revenue estimates; the company also saw notable insider selling, including a large stake reduction by Qatar Investment Authority.

Fluence Energy (NASDAQ:FLNC - Get Free Report) was upgraded by equities research analysts at Citigroup from a "neutral" rating to a "buy" rating in a report issued on Wednesday. The firm currently has a $24.00 price target on the stock. Citigroup's price objective suggests a potential upside of 57.07% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $22.00 price objective on shares of Fluence Energy in a research report on Thursday, May 7th. Wall Street Zen cut shares of Fluence Energy from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. HSBC upgraded shares of Fluence Energy from a "reduce" rating to a "hold" rating and set a $19.00 price target on the stock in a report on Friday, May 8th. Glj Research started coverage on shares of Fluence Energy in a research note on Wednesday, July 1st. They issued a "buy" rating and a $26.00 price target on the stock. Finally, Zacks Research raised shares of Fluence Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.53.

Fluence Energy Stock Performance

NASDAQ:FLNC opened at $15.28 on Wednesday. The stock has a 50-day moving average price of $20.34 and a 200 day moving average price of $19.13. The stock has a market capitalization of $2.82 billion, a P/E ratio of -42.44 and a beta of 2.75. Fluence Energy has a 12-month low of $6.60 and a 12-month high of $33.51. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. Fluence Energy had a negative return on equity of 8.29% and a negative net margin of 1.62%.The company had revenue of $464.89 million for the quarter, compared to analysts' expectations of $614.93 million. During the same period in the previous year, the firm earned ($0.24) EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Fluence Energy will post -0.18 EPS for the current fiscal year.

Insider Transactions at Fluence Energy

In other news, major shareholder Qatar Investment Authority sold 2,867,172 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the sale, the insider directly owned 11,801,103 shares in the company, valued at approximately $247,823,163. This represents a 19.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Zahurancik sold 15,974 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total transaction of $351,907.22. Following the sale, the senior vice president owned 71,171 shares in the company, valued at $1,567,897.13. This represents a 18.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,904,146 shares of company stock worth $61,090,399 in the last three months. Insiders own 0.69% of the company's stock.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently modified their holdings of FLNC. Curio Wealth LLC purchased a new position in Fluence Energy during the fourth quarter worth $31,000. State of Wyoming purchased a new position in shares of Fluence Energy during the 4th quarter worth about $36,000. EverSource Wealth Advisors LLC boosted its stake in shares of Fluence Energy by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock worth $38,000 after purchasing an additional 672 shares during the period. GAMMA Investing LLC grew its holdings in Fluence Energy by 22.2% during the 4th quarter. GAMMA Investing LLC now owns 2,406 shares of the company's stock valued at $48,000 after purchasing an additional 437 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in Fluence Energy during the 3rd quarter valued at about $48,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company's core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.