Fluence Energy, Inc. (NASDAQ:FLNC) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-one research firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.65.

FLNC has been the subject of several research reports. Guggenheim reiterated a "buy" rating and set a $26.00 price target on shares of Fluence Energy in a research note on Friday, December 6th. Susquehanna upped their target price 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. Canaccord Genuity Group decreased their price target on shares of Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Piper Sandler upped their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 27th. Finally, Baird R W cut Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, for a total transaction 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 represents a 15.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Fluence Energy by 19.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company's stock valued at $3,775,000 after acquiring an additional 35,701 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Fluence Energy by 305.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 30,952 shares of the company's stock worth $537,000 after buying an additional 23,319 shares during the period. Banque Cantonale Vaudoise grew its holdings in shares of Fluence Energy by 148.5% during the second quarter. Banque Cantonale Vaudoise now owns 26,280 shares of the company's stock worth $455,000 after buying an additional 15,704 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Fluence Energy in the 2nd quarter valued at about $109,000. Finally, Rhumbline Advisers raised its stake in Fluence Energy by 19.1% during the 2nd quarter. Rhumbline Advisers now owns 93,380 shares of the company's stock valued at $1,619,000 after acquiring an additional 14,992 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Price Performance

Shares of FLNC stock traded up $0.44 during trading hours on Friday, hitting $16.24. The company had a trading volume of 2,096,834 shares, compared to its average volume of 2,364,161. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $26.12. The company's fifty day moving average is $19.09 and its 200 day moving average is $18.94. The stock has a market capitalization of $2.94 billion, a PE ratio of 124.92, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released 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. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company's quarterly revenue was up 82.5% on a year-over-year basis. During the same period last year, the business posted $0.02 earnings per share. Equities analysts forecast that Fluence Energy will post 0.56 earnings per share for the current 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.