Barclays Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its target price reduced by investment analysts at Barclays from $28.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 60.00% from the company’s previous close.

A number of other brokerages also recently commented on FLNC. Truist Financial raised their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their target price on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $15.00 in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.80.

Fluence Energy Trading Up 3.2 %

Shares of FLNC stock opened at $13.75 on Wednesday. The stock has a 50 day moving average of $17.36 and a two-hundred day moving average of $18.55. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $26.12. The company has a market capitalization of $2.49 billion, a P/E ratio of 105.77, a P/E/G ratio of 0.47 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last announced 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 return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $0.02 EPS. The company’s quarterly revenue was up 82.5% on a year-over-year basis. Sell-side analysts predict that Fluence Energy will post 0.55 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the purchase, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the period. CWM LLC boosted its position in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Fluence Energy in the 3rd quarter worth $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fluence Energy in the 3rd quarter worth $87,000. Finally, Blue Trust Inc. boosted its position in shares of Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares during the last quarter. 53.16% of the stock is 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.