Fluence Energy (NASDAQ:FLNC) Research Coverage Started at Scotiabank

Scotiabank initiated coverage on shares of Fluence Energy (NASDAQ:FLNC) in a research report sent to investors on Thursday, Marketbeat.com reports. The firm issued a sector perform rating and a $21.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Evercore ISI reduced their price objective on shares of Fluence Energy from $59.00 to $47.00 and set an outperform rating for the company in a report on Monday, May 13th. Guggenheim downgraded shares of Fluence Energy from a buy rating to a neutral rating in a report on Thursday, June 6th. Morgan Stanley cut their price target on shares of Fluence Energy from $32.00 to $30.00 and set an equal weight rating for the company in a report on Friday, May 10th. Truist Financial initiated coverage on shares of Fluence Energy in a report on Wednesday, July 10th. They issued a buy rating and a $25.00 price target for the company. Finally, Raymond James raised shares of Fluence Energy from a market perform rating to an outperform rating and set a $22.00 price target for the company in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $27.94.

Fluence Energy Price Performance

FLNC stock opened at $18.54 on Thursday. Fluence Energy has a 1-year low of $13.03 and a 1-year high of $31.32. The firm has a fifty day moving average price of $20.05 and a two-hundred day moving average price of $18.79. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -47.54 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNC) last released 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 business had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. As a group, analysts expect that Fluence Energy will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently added to or reduced their stakes in the stock. Sax Wealth Advisors LLC bought a new stake in shares of Fluence Energy in the second quarter valued at approximately $184,000. Sanders Morris Harris LLC bought a new stake in shares of Fluence Energy in the second quarter valued at approximately $2,683,000. Renaissance Capital LLC boosted its position in shares of Fluence Energy by 42.0% in the second quarter. Renaissance Capital LLC now owns 54,288 shares of the company’s stock valued at $941,000 after acquiring an additional 16,045 shares during the period. GAMMA Investing LLC boosted its position in shares of Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after acquiring an additional 2,146 shares during the period. Finally, Comerica Bank boosted its position in shares of Fluence Energy by 79.1% in the first quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $73,000 after acquiring an additional 1,860 shares during the period. 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.