Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) Price Target at $26.85

Fluence Energy, Inc. (NASDAQ:FLNC) has earned a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $26.85.

A number of research firms have weighed in on FLNC. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Robert W. Baird cut their target price on Fluence Energy from $27.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Bank of America lowered their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $24.00 in a report on Tuesday, October 1st.

Fluence Energy Stock Performance

Shares of Fluence Energy stock opened at $18.52 on Tuesday. The business has a 50-day simple moving average of $20.54 and a 200-day simple moving average of $19.61. Fluence Energy has a one year low of $12.74 and a one year high of $27.39. The company has a market cap of $3.35 billion, a PE ratio of 142.46, a P/E/G ratio of 0.55 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.02 EPS. The firm’s revenue was up 82.5% on a year-over-year basis. On average, sell-side analysts predict that Fluence Energy will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its position in Fluence Energy by 11.8% during the 3rd quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock worth $3,644,000 after buying an additional 17,551 shares during the last quarter. Geode Capital Management LLC lifted its position in Fluence Energy by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after purchasing an additional 60,633 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Fluence Energy by 76.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock valued at $585,000 after purchasing an additional 11,138 shares in the last quarter. Barclays PLC increased its position in Fluence Energy by 296.8% during the 3rd quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after purchasing an additional 135,957 shares during the period. Finally, Main Management ETF Advisors LLC purchased a new position in shares of Fluence Energy during the 3rd quarter worth approximately $1,234,000. 53.16% of the stock is currently 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.