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

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.65.

FLNC has been the subject of several recent analyst reports. Bank of America decreased their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research note on Friday, November 8th. 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 research note on Wednesday, October 16th. Royal Bank of Canada decreased their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $16.42 on Friday. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 126.31, a PEG ratio of 0.54 and a beta of 2.39. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $26.12. The firm’s 50-day moving average is $19.00 and its 200 day moving average is $18.85.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating 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 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 company posted $0.02 earnings per share. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, equities analysts expect that Fluence Energy will post 0.56 EPS for the current fiscal year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PARK CIRCLE Co purchased a new position in shares of Fluence Energy in the second quarter worth $28,000. US Bancorp DE lifted its stake in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares in the last quarter. CWM LLC boosted its holdings in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy during the third quarter valued at about $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy in the third quarter worth about $87,000. 53.16% of the stock is currently owned by 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.