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

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been given a consensus recommendation of “Moderate Buy” by the twenty-one research firms that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $25.80.

A number of equities research analysts have recently commented on FLNC shares. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Guggenheim restated a “buy” rating and set a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. Truist Financial increased their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Finally, Canaccord Genuity Group cut their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th.

Fluence Energy Trading Up 3.2 %

FLNC stock opened at $14.19 on Wednesday. Fluence Energy has a 12-month low of $12.74 and a 12-month high of $26.12. The business’s 50-day moving average is $17.11 and its 200 day moving average is $18.52. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 109.15, a PEG ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (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 firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $0.02 earnings per share. The business’s revenue was up 82.5% on a year-over-year basis. As a group, equities analysts forecast that Fluence Energy will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the purchase, the director now directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently made changes to their positions in FLNC. Handelsbanken Fonder AB increased its stake in shares of Fluence Energy by 47.3% during the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after buying an additional 2,047,063 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Fluence Energy in the 3rd quarter valued at approximately $22,059,000. Point72 Asset Management L.P. acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at $21,809,000. Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy during the 3rd quarter worth $5,742,000. Finally, Zimmer Partners LP acquired a new position in shares of Fluence Energy during the third quarter worth $5,678,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.