Fluence Energy (NASDAQ:FLNC) Shares Gap Up Following Analyst Upgrade

Key Points

• Fluence Energy's stock price surged from $16.03 to $17.08 following an upgrade from Bank of America, which raised its price target from $11.00 to $17.00 while maintaining a neutral rating.
• Other brokerages, including Goldman Sachs and Susquehanna, have also increased their target prices for the stock, with Goldman Sachs setting a new target at $15.00 and Susquehanna at $17.00.
• Fluence Energy reported a revenue of $602.53 million in its latest quarter, marking a 24.7% year-over-year increase, despite topping analysts' EPS estimates by $0.03.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price gapped up prior to trading on Friday after Bank of America raised their price target on the stock from $11.00 to $17.00. The stock had previously closed at $16.03, but opened at $17.08. Bank of America currently has a neutral rating on the stock. Fluence Energy shares last traded at $18.06, with a volume of 2,010,774 shares trading hands.

Several other brokerages have also weighed in on FLNC. The Goldman Sachs Group upped their target price on shares of Fluence Energy from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. BNP Paribas set a $9.00 target price on shares of Fluence Energy and gave the stock an "underperform" rating in a research report on Tuesday. Royal Bank Of Canada lowered their target price on shares of Fluence Energy from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Fluence Energy in a research report on Wednesday, October 8th. Finally, Susquehanna upped their target price on shares of Fluence Energy from $9.00 to $17.00 and gave the stock a "positive" rating in a research report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Fluence Energy currently has an average rating of "Reduce" and an average price target of $9.12.

Institutional Trading of Fluence Energy

Hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC acquired a new stake in Fluence Energy during the second quarter worth approximately $30,000. SBI Securities Co. Ltd. boosted its position in Fluence Energy by 462.6% during the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock worth $39,000 after acquiring an additional 6,648 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Fluence Energy by 25.7% during the second quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company's stock worth $52,000 after acquiring an additional 1,586 shares during the last quarter. TFB Advisors LLC acquired a new stake in Fluence Energy during the first quarter worth approximately $53,000. Finally, Voleon Capital Management LP acquired a new stake in Fluence Energy during the first quarter worth approximately $55,000. Institutional investors and hedge funds own 53.16% of the company's stock.

Fluence Energy Stock Performance

The stock's 50-day moving average is $10.85 and its 200-day moving average is $7.71. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -91.10 and a beta of 2.76. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.64 and a quick ratio of 1.06.

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

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.

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