Fluence Energy (NASDAQ:FLNC) PT Lowered to $28.00 at Barclays

Fluence Energy (NASDAQ:FLNC) had its price objective reduced by equities research analysts at Barclays from $30.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 79.49% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Scotiabank upgraded shares of Fluence Energy to a “hold” rating in a research report on Friday, July 12th. Truist Financial began coverage on shares of Fluence Energy in a research report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $29.00 price objective on shares of Fluence Energy in a research report on Friday, June 14th. Roth Mkm restated a “buy” rating and set a $27.00 price objective (down from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. Finally, Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy presently has a consensus rating of “Moderate Buy” and an average price target of $28.22.

Fluence Energy Stock Up 0.1 %

Shares of Fluence Energy stock opened at $15.60 on Friday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -40.00 and a beta of 2.50. The company’s 50 day moving average is $19.58 and its 200 day moving average is $18.43. Fluence Energy has a twelve month low of $13.03 and a twelve month high of $30.19.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $538.42 million. During the same period last year, the firm earned ($0.21) earnings per share. The company’s quarterly revenue was down 10.7% on a year-over-year basis. Sell-side analysts expect that Fluence Energy will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its stake in shares of Fluence Energy by 145.5% in the 4th quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after buying an additional 1,706,808 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Fluence Energy by 41.0% in the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after buying an additional 1,605,345 shares in the last quarter. Clean Energy Transition LLP purchased a new position in shares of Fluence Energy in the 4th quarter worth $32,124,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Fluence Energy by 21.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock worth $75,086,000 after buying an additional 757,105 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Fluence Energy in the 4th quarter worth $13,931,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

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.