Fluence Energy (NASDAQ:FLNC) Rating Lowered to Hold at Baird R W

Fluence Energy (NASDAQ:FLNC - Get Free Report) was downgraded by equities research analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Guggenheim reissued a "buy" rating and set a $26.00 price objective on shares of Fluence Energy in a research report on Friday, December 6th. Jefferies Financial Group started coverage on Fluence Energy in a report on Wednesday, September 4th. They set a "buy" rating and a $26.00 target price for the company. 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. BMO Capital Markets increased their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Finally, Truist Financial boosted their target price on Fluence Energy from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Fluence Energy currently has a consensus rating of "Moderate Buy" and an average price target of $26.65.

Fluence Energy Stock Performance

FLNC stock traded down $1.07 during midday trading on Wednesday, hitting $15.00. 4,567,994 shares of the company's stock were exchanged, compared to its average volume of 2,372,443. Fluence Energy has a one year low of $12.74 and a one year high of $26.12. The company has a market cap of $2.72 billion, a PE ratio of 115.38, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The stock's fifty day moving average price is $19.88 and its 200-day moving average price is $19.28.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share 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 business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.02 EPS. Fluence Energy's revenue for the quarter was up 82.5% on a year-over-year basis. On average, analysts expect that Fluence Energy will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of FLNC. Handelsbanken Fonder AB grew its holdings in 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 purchasing an additional 2,047,063 shares during the period. FMR LLC boosted its stake in shares of Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company's stock worth $36,475,000 after acquiring an additional 132,868 shares during the period. Lazard Freres Gestion S.A.S. acquired a new position in shares of Fluence Energy during the 2nd quarter worth approximately $26,877,000. Geode Capital Management LLC raised its stake in Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company's stock valued at $34,253,000 after acquiring an additional 60,633 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company's stock valued at $26,025,000 after purchasing an additional 23,927 shares during the last quarter. 53.16% of the stock is 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.