Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) Price Target at $29.06

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eighteen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $29.06.

FLNC has been the subject of a number of recent research reports. Susquehanna raised shares of Fluence Energy from a "neutral" rating to a "positive" rating and set a $24.00 price objective for the company in a report on Monday, February 26th. Raymond James raised shares of Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a report on Wednesday, April 3rd. Roth Mkm reissued a "buy" rating and issued a $27.00 price objective (down previously from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. JPMorgan Chase & Co. raised shares of Fluence Energy from a "neutral" rating to an "overweight" rating and set a $23.00 price objective for the company in a report on Friday, February 23rd. Finally, Piper Sandler cut their price objective on shares of Fluence Energy from $20.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, May 10th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Fluence Energy by 11.9% during the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company's stock valued at $107,130,000 after acquiring an additional 656,839 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Fluence Energy by 21.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company's stock valued at $75,086,000 after buying an additional 757,105 shares during the period. FMR LLC boosted its holdings in shares of Fluence Energy by 146.9% in the 3rd quarter. FMR LLC now owns 3,959,313 shares of the company's stock valued at $91,025,000 after buying an additional 2,355,849 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Fluence Energy by 145.5% in the 4th quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company's stock worth $68,689,000 after purchasing an additional 1,706,808 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Fluence Energy by 65.2% in the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company's stock worth $61,950,000 after acquiring an additional 1,063,609 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Stock Performance

Shares of FLNC stock traded up $0.06 during midday trading on Friday, hitting $18.32. 1,033,672 shares of the company were exchanged, compared to its average volume of 2,259,253. The firm has a market capitalization of $3.27 billion, a P/E ratio of -46.92 and a beta of 2.48. The firm's 50 day moving average price is $16.76 and its two-hundred day moving average price is $19.13. Fluence Energy has a 52 week low of $13.03 and a 52 week high of $31.32.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. Fluence Energy's revenue was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. Analysts expect that Fluence Energy will post 0.14 EPS for the current year.

About Fluence Energy

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.