Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $5.00 to $8.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 13.65% from the stock's previous close.
Several other equities analysts have also commented on FLNC. BMO Capital Markets set a $5.00 target price on Fluence Energy and gave the company a "market perform" rating in a report on Wednesday, June 25th. Canaccord Genuity Group lowered their target price on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Mizuho restated a "neutral" rating and issued a $10.00 target price (up from $6.00) on shares of Fluence Energy in a research report on Monday, July 14th. Piper Sandler lowered their target price on Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Guggenheim lowered their target price on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy presently has an average rating of "Hold" and a consensus target price of $7.98.
Check Out Our Latest Report on Fluence Energy
Fluence Energy Stock Performance
Shares of NASDAQ:FLNC traded down $0.10 during trading on Tuesday, hitting $9.27. 1,669,890 shares of the company traded hands, compared to its average volume of 5,396,129. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -42.20 and a beta of 2.65. The business's fifty day moving average is $6.42 and its 200-day moving average is $7.12. Fluence Energy has a one year low of $3.46 and a one year high of $24.00. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The firm's revenue for the quarter was down 30.7% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share. As a group, equities analysts predict that Fluence Energy will post 0.08 earnings per share for the current fiscal year.
Insider Transactions at Fluence Energy
In related news, Director Cynthia A. Arnold acquired 33,000 shares of Fluence Energy stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $5.90 per share, with a total value of $194,700.00. Following the purchase, the director directly owned 86,202 shares in the company, valued at $508,591.80. The trade was a 62.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.65% of the company's stock.
Institutional Investors Weigh In On Fluence Energy
Several large investors have recently modified their holdings of FLNC. Raymond James Financial Inc. bought a new stake in shares of Fluence Energy during the 4th quarter worth $1,221,000. Swiss National Bank boosted its stake in shares of Fluence Energy by 1.4% during the 4th quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after acquiring an additional 1,800 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Fluence Energy by 52.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,763 shares of the company's stock worth $806,000 after acquiring an additional 17,437 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Fluence Energy by 70.6% during the 4th quarter. Intech Investment Management LLC now owns 23,210 shares of the company's stock worth $369,000 after acquiring an additional 9,602 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Fluence Energy in the fourth quarter valued at $213,000. 53.16% of the stock is owned by institutional investors.
About Fluence Energy
(
Get Free Report)
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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