Fluence Energy (NASDAQ:FLNC - Free Report) had its target price trimmed by Piper Sandler from $20.00 to $18.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.
A number of other brokerages also recently commented on FLNC. BMO Capital Markets raised Fluence Energy from a market perform rating to an outperform rating and set a $27.00 price target for the company in a report on Tuesday, January 16th. The Goldman Sachs Group reduced their price target on Fluence Energy from $32.00 to $26.00 and set a buy rating for the company in a report on Friday, March 22nd. Susquehanna raised Fluence Energy from a neutral rating to a positive rating and set a $24.00 price target for the company in a report on Monday, February 26th. JPMorgan Chase & Co. raised Fluence Energy from a neutral rating to an overweight rating and set a $23.00 price target for the company in a report on Friday, February 23rd. Finally, Raymond James raised Fluence Energy from a market perform rating to an outperform rating and set a $22.00 target price on the stock in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy presently has a consensus rating of Moderate Buy and a consensus price target of $28.11.
Read Our Latest Report on FLNC
Fluence Energy Trading Down 10.8 %
NASDAQ:FLNC traded down $2.02 on Friday, hitting $16.73. 5,419,363 shares of the stock were exchanged, compared to its average volume of 2,280,734. The stock has a market cap of $2.99 billion, a PE ratio of -33.09 and a beta of 2.48. The stock has a fifty day moving average of $16.48 and a 200-day moving average of $19.15. Fluence Energy has a fifty-two week low of $13.03 and a fifty-two week high of $31.32.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The firm's revenue was down 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.21) earnings per share. As a group, analysts predict that Fluence Energy will post 0.14 earnings per share for the current year.
Institutional Trading of Fluence Energy
A number of institutional investors and hedge funds have recently made changes to their positions in FLNC. SG Americas Securities LLC acquired a new stake in Fluence Energy in the 3rd quarter valued at approximately $192,000. Commonwealth Equity Services LLC increased its position in Fluence Energy by 11.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,619 shares of the company's stock valued at $267,000 after acquiring an additional 1,202 shares during the period. Allspring Global Investments Holdings LLC increased its position in Fluence Energy by 185.3% in 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 during the period. Quaero Capital S.A. raised its stake in shares of Fluence Energy by 5.3% in the 3rd quarter. Quaero Capital S.A. now owns 142,324 shares of the company's stock worth $3,272,000 after buying an additional 7,125 shares in the last quarter. Finally, Money Concepts Capital Corp raised its stake in shares of Fluence Energy by 21.0% in the 3rd quarter. Money Concepts Capital Corp now owns 15,705 shares of the company's stock worth $361,000 after buying an additional 2,725 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.
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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