Fluence Energy (NASDAQ:FLNC) Trading Up 11.5% Following Analyst Upgrade

Key Points

• Fluence Energy's stock price surged by 11.5% after JPMorgan Chase & Co. upgraded its price target from $8.00 to $9.00, maintaining a neutral rating.
• Fifteen analysts have issued ratings for Fluence Energy, leading to a consensus "Hold" rating with an average price target of $8.13.
• Fluence Energy reported a quarterly revenue of $602.53 million, which was below analyst estimates but represented a 24.7% increase compared to the same quarter last year.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) traded up 11.5% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $8.00 to $9.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Fluence Energy traded as high as $10.11 and last traded at $10.43. 2,282,574 shares were traded during trading, a decline of 56% from the average session volume of 5,153,897 shares. The stock had previously closed at $9.36.

FLNC has been the topic of several other reports. Jefferies Financial Group reissued an "underperform" rating and set a $6.00 price target on shares of Fluence Energy in a research note on Friday, July 11th. Barclays decreased their target price on shares of Fluence Energy from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 12th. Hsbc Global Res lowered shares of Fluence Energy from a "hold" rating to a "moderate sell" rating in a research report on Wednesday, August 13th. Mizuho reaffirmed a "neutral" rating and set a $10.00 price objective (up from $6.00) on shares of Fluence Energy in a research note on Monday, July 14th. Finally, Susquehanna boosted their target price on Fluence Energy from $6.00 to $11.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $8.13.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in shares of Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after buying an additional 2,076,668 shares during the period. CenterBook Partners LP purchased a new position in Fluence Energy during the 1st quarter valued at $12,458,000. SG Americas Securities LLC raised its holdings in Fluence Energy by 1,794.8% in the 2nd quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company's stock worth $12,539,000 after purchasing an additional 1,770,090 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Fluence Energy by 10.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,683,637 shares of the company's stock valued at $11,298,000 after purchasing an additional 153,614 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Fluence Energy by 11.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,076,682 shares of the company's stock valued at $17,098,000 after purchasing an additional 114,525 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Price Performance

The company has a market cap of $1.93 billion, a PE ratio of -50.48 and a beta of 2.66. The firm's 50-day moving average is $8.04 and its 200-day moving average is $6.19. The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. The firm had revenue of $602.53 million for the quarter, compared to the consensus estimate of $738.52 million. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%.The company's revenue for the quarter was up 24.7% compared to the same quarter last year. Fluence Energy has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current 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.