Piper Sandler Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $20.00

Fluence Energy (NASDAQ:FLNC - Free Report) had its price objective reduced by Piper Sandler from $25.00 to $20.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently weighed in on the company. Bank of America lifted their price target on Fluence Energy from $26.00 to $28.00 and gave the company a buy rating in a research report on Thursday, January 4th. Raymond James upgraded shares of Fluence Energy from a market perform rating to an outperform rating and set a $22.00 target price for the company in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upgraded shares of Fluence Energy from a neutral rating to an overweight rating and set a $23.00 price target on the stock in a research report on Friday, February 23rd. 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. Finally, BMO Capital Markets raised shares of Fluence Energy from a market perform rating to an outperform rating and set a $27.00 target price on the stock in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $28.56.

Fluence Energy Stock Up 0.4 %

Shares of NASDAQ:FLNC traded up $0.06 during midday trading on Thursday, reaching $16.80. The company's stock had a trading volume of 1,386,357 shares, compared to its average volume of 2,344,926. The firm has a market capitalization of $3.00 billion, a PE ratio of -31.70 and a beta of 2.57. The stock has a fifty day moving average of $16.83 and a 200 day moving average of $19.65. Fluence Energy has a twelve month low of $13.03 and a twelve month high of $31.32.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. Fluence Energy's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) earnings per share. Sell-side analysts anticipate that Fluence Energy will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI acquired a new position in Fluence Energy in the 3rd quarter valued at $27,000. Pflug Koory LLC acquired a new stake in shares of Fluence Energy in the first quarter valued at about $35,000. Quarry LP purchased a new position in shares of Fluence Energy in the fourth quarter worth about $38,000. Point72 Hong Kong Ltd acquired a new position in Fluence Energy during the second quarter worth about $39,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company's stock valued at $49,000 after acquiring an additional 1,388 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company's stock.

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.