Mizuho reaffirmed their neutral rating on shares of Fluence Energy (NASDAQ:FLNC - Free Report) in a report released on Monday, MarketBeat Ratings reports. Mizuho currently has a $10.00 price target on the stock, up from their prior price target of $6.00.
A number of other brokerages have also weighed in on FLNC. HSBC lowered Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a report on Monday, April 28th. Morgan Stanley increased their target price on Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. UBS Group increased their target price on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Guggenheim lowered their target price on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group lowered their target price on Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy 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 $7.58.
View Our Latest Research Report on Fluence Energy
Fluence Energy Stock Performance
Shares of NASDAQ FLNC traded up $0.38 during midday trading on Monday, reaching $8.32. 3,985,564 shares of the company were exchanged, compared to its average volume of 3,931,603. The stock has a fifty day simple moving average of $5.86 and a 200 day simple moving average of $7.42. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.51 billion, a P/E ratio of -37.82 and a beta of 2.65. Fluence Energy has a 1 year low of $3.46 and a 1 year high of $24.00.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (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 company had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. During the same period in the previous year, the firm posted ($0.07) EPS. The company's revenue for the quarter was down 30.7% on a year-over-year basis. On average, research analysts forecast that Fluence Energy will post 0.08 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Cynthia A. Arnold bought 33,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $5.90 per share, with a total value of $194,700.00. Following the completion of the acquisition, the director directly owned 86,202 shares in the company, valued at approximately $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FLNC. CenterBook Partners LP bought a new position in shares of Fluence Energy in the first quarter valued at $12,458,000. Goldman Sachs Group Inc. grew 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 worth $15,380,000 after purchasing an additional 2,076,668 shares in the last quarter. Zimmer Partners LP grew 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 worth $34,052,000 after purchasing an additional 1,894,301 shares in the last quarter. Webs Creek Capital Management LP purchased a new position in Fluence Energy during the 4th quarter worth approximately $15,118,000. Finally, Edgestream Partners L.P. purchased a new position in Fluence Energy during the 1st quarter worth approximately $4,180,000. Institutional investors own 53.16% of the company's stock.
About Fluence Energy
(
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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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