Fluence Energy (NASDAQ:FLNC) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of Fluence Energy (NASDAQ:FLNC - Free Report) from a market perform rating to an outperform rating in a research note published on Wednesday, Marketbeat reports. The brokerage currently has $22.00 target price on the stock.

Several other equities analysts have also recently issued reports on FLNC. Susquehanna upgraded Fluence Energy from a neutral rating to a positive rating and set a $24.00 target price on the stock in a research report on Monday, February 26th. Royal Bank of Canada boosted their target price on Fluence Energy from $32.00 to $33.00 and gave the stock an outperform rating in a research report on Monday, December 11th. BMO Capital Markets upgraded Fluence Energy from a market perform rating to an outperform rating and set a $27.00 target price on the stock in a research report on Tuesday, January 16th. JPMorgan Chase & Co. upgraded Fluence Energy from a neutral rating to an overweight rating and set a $23.00 price target on the stock in a report on Friday, February 23rd. Finally, Morgan Stanley upped their price target on Fluence Energy from $27.00 to $32.00 and gave the stock an equal weight rating in a report on Friday, December 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $28.63.

Fluence Energy Stock Up 4.8 %

FLNC traded up $0.76 on Wednesday, hitting $16.46. 2,097,063 shares of the company traded hands, compared to its average volume of 2,447,858. The company has a 50 day moving average of $17.28 and a 200-day moving average of $19.90. The stock has a market capitalization of $2.94 billion, a PE ratio of -31.06 and a beta of 2.57. Fluence Energy has a 12-month low of $13.03 and a 12-month high of $31.32.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLNC. National Bank of Canada FI purchased a new position in shares of Fluence Energy during the 3rd quarter worth $27,000. Quarry LP purchased a new position in shares of Fluence Energy during the 4th quarter worth $38,000. Point72 Hong Kong Ltd purchased a new position in shares of Fluence Energy during the 2nd quarter worth $39,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company's stock worth $49,000 after purchasing an additional 1,388 shares during the period. Finally, Comerica Bank lifted its stake in shares of Fluence Energy by 724.9% during the 4th quarter. Comerica Bank now owns 2,351 shares of the company's stock worth $56,000 after purchasing an additional 2,066 shares during the period. Hedge funds and other institutional investors own 53.16% of the company's stock.

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.