Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) Price Target at $26.65

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $25.80.

FLNC has been the topic of several analyst reports. Canaccord Genuity Group cut their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Robert W. Baird reissued a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Susquehanna lifted their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets increased their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $14.19 on Wednesday. The company’s 50-day simple moving average is $17.11 and its two-hundred day simple moving average is $18.52. Fluence Energy has a one year low of $12.74 and a one year high of $26.12. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 109.15, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Fluence Energy’s revenue for the quarter was up 82.5% compared to the same quarter last year. Equities analysts expect that Fluence Energy will post 0.55 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in shares of Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after acquiring an additional 2,047,063 shares during the period. Erste Asset Management GmbH acquired a new position in Fluence Energy in the 3rd quarter worth about $22,059,000. Point72 Asset Management L.P. purchased a new position in Fluence Energy during the third quarter worth approximately $21,809,000. Principal Financial Group Inc. acquired a new stake in Fluence Energy in the third quarter valued at approximately $5,742,000. Finally, Zimmer Partners LP purchased a new stake in shares of Fluence Energy in the third quarter valued at approximately $5,678,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.