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 price target lowered by analysts at Royal Bank Of Canada from $8.00 to $7.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential downside of 4.07% from the stock's current price.

Several other analysts also recently commented on FLNC. UBS Group upped their price objective on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Jefferies Financial Group reaffirmed an "underperform" rating and set a $6.00 price objective on shares of Fluence Energy in a research note on Friday, July 11th. BMO Capital Markets set a $5.00 price objective on Fluence Energy and gave the company a "market perform" rating in a research note on Wednesday, June 25th. Barclays reduced their price objective on Fluence Energy from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Tuesday. Finally, Morgan Stanley upped their price objective on Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.98.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC traded down $0.07 during trading hours on Wednesday, reaching $7.30. The stock had a trading volume of 1,956,161 shares, compared to its average volume of 5,259,581. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -34.64 and a beta of 2.67. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. Fluence Energy has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The firm has a 50-day moving average of $7.36 and a 200-day moving average of $6.43.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $602.53 million during the quarter, compared to the consensus estimate of $738.52 million. Fluence Energy had a negative return on equity of 3.38% and a negative net margin of 0.76%. The firm's quarterly revenue was up 24.7% on a year-over-year basis. Equities research analysts predict that Fluence Energy will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds have recently bought and sold shares of FLNC. CenterBook Partners LP purchased a new position in Fluence Energy in the 1st quarter valued at approximately $12,458,000. Goldman Sachs Group Inc. increased its position in Fluence Energy by 189.7% during 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 in the last quarter. Zimmer Partners LP increased its position in Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after buying an additional 1,894,301 shares in the last quarter. SG Americas Securities LLC increased its position in Fluence Energy by 1,794.8% during the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company's stock worth $12,539,000 after buying an additional 1,770,090 shares in the last quarter. Finally, Webs Creek Capital Management LP purchased a new position in Fluence Energy during the fourth quarter worth $15,118,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.

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