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

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been assigned an average rating of “Moderate Buy” from the twenty brokerages that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $26.85.

A number of research analysts have commented on FLNC shares. Guggenheim raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, August 9th. Susquehanna increased their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Robert W. Baird reduced their target price on Fluence Energy from $27.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Truist Financial increased their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Bank of America cut their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently modified their holdings of FLNC. Franklin Resources Inc. lifted its holdings 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Fluence Energy by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after buying an additional 60,633 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Fluence Energy by 76.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock worth $585,000 after buying an additional 11,138 shares in the last quarter. Barclays PLC lifted its holdings 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 buying an additional 135,957 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in Fluence Energy during the 3rd quarter worth $1,234,000. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Stock Performance

Shares of FLNC opened at $16.84 on Tuesday. The company has a market capitalization of $3.04 billion, a P/E ratio of 129.54, a P/E/G ratio of 0.61 and a beta of 2.39. Fluence Energy has a one year low of $12.74 and a one year high of $27.39. The stock has a 50-day moving average price of $20.74 and a 200 day moving average price of $19.63.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior 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. As a group, equities research analysts forecast that Fluence Energy will post 0.54 earnings per share for the current fiscal year.

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.