Guggenheim Upgrades Fluence Energy (NASDAQ:FLNC) to “Buy”

Fluence Energy (NASDAQ:FLNC) was upgraded by equities research analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports. The brokerage currently has a $26.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 60.00% from the stock’s current price.

Several other brokerages have also recently issued reports on FLNC. Barclays reduced their price objective on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Bank of America dropped their price objective on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley reduced their target price 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. Evercore ISI cut their price target on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Finally, Truist Financial assumed coverage on shares of Fluence Energy in a research note on Wednesday, July 10th. They set a “buy” rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Fluence Energy Trading Up 2.1 %

Shares of FLNC traded up $0.33 during mid-day trading on Friday, hitting $16.25. The company’s stock had a trading volume of 3,550,781 shares, compared to its average volume of 2,456,117. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -41.67 and a beta of 2.50. The company’s 50-day moving average is $18.15 and its 200-day moving average is $18.01. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $30.19.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, May 8th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The business had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same period in the previous year, the company posted ($0.21) earnings per share. The firm’s revenue was down 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Fluence Energy will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of FLNC. PARK CIRCLE Co purchased a new stake in shares of Fluence Energy in the 2nd quarter valued at approximately $28,000. Pflug Koory LLC purchased a new position in Fluence Energy in the first quarter valued at approximately $35,000. Quarry LP acquired a new stake in Fluence Energy during the fourth quarter worth approximately $38,000. Baillie Gifford & Co. acquired a new position in shares of Fluence Energy in the 1st quarter valued at $38,000. Finally, GAMMA Investing LLC lifted its position in 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 last quarter. 53.16% of the stock is currently 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.