Royal Bank Of Canada Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Key Points

• Royal Bank of Canada has decreased its price target for Fluence Energy's stock from $8.00 to $7.00, indicating a potential downside of 4.07% from the current price.
• Fluence Energy's stock performance showed a trading price of $7.30 with a market cap of $1.32 billion, while analysts' ratings suggest a consensus target price of $7.98.
• Recent quarterly earnings reported a $0.01 EPS, beating expectations but with revenues of $602.53 million falling short of a $738.52 million estimate.

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its target price lowered by Royal Bank Of Canada from $8.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential downside of 13.15% from the stock's previous close.

Several other research analysts also recently commented on the stock. Hsbc Global Res downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays cut their price target on Fluence Energy from $9.00 to $8.00 and set an "equal weight" rating for the company in a report on Tuesday, August 12th. Canaccord Genuity Group decreased their price objective on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group reissued an "underperform" rating and set a $6.00 price objective on shares of Fluence Energy in a report on Friday, July 11th. Finally, Mizuho reaffirmed a "neutral" rating and set a $10.00 target price (up previously from $6.00) on shares of Fluence Energy in a report on Monday, July 14th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Fluence Energy has an average rating of "Hold" and a consensus target price of $7.98.

Fluence Energy Stock Performance

FLNC stock traded up $0.11 during midday trading on Wednesday, hitting $8.06. The company's stock had a trading volume of 4,506,532 shares, compared to its average volume of 5,282,819. The stock's 50-day moving average price is $7.54 and its 200 day moving average price is $6.27. The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -38.38 and a beta of 2.67. 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 announced its quarterly earnings data on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%. The business had revenue of $602.53 million during the quarter, compared to analyst estimates of $738.52 million. The firm's revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities analysts forecast that Fluence Energy will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Fluence Energy by 189.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after buying an additional 2,076,668 shares during the period. CenterBook Partners LP purchased a new stake in Fluence Energy in the first quarter worth about $12,458,000. Zimmer Partners LP boosted its position in shares of Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after purchasing an additional 1,894,301 shares in the last quarter. SG Americas Securities LLC grew its holdings in Fluence Energy by 1,794.8% in the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company's stock worth $12,539,000 after purchasing an additional 1,770,090 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Fluence Energy by 10.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,683,637 shares of the company's stock worth $11,298,000 after purchasing an additional 153,614 shares in the last quarter. 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.