Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) traded down 5.9% during trading on Thursday . The company traded as low as $14.92 and last traded at $15.12. 2,471,491 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 2,361,717 shares. The stock had previously closed at $16.07.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on FLNC. Jefferies Financial Group began coverage on Fluence Energy in a research report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price target on the stock. Susquehanna raised their target price on Fluence Energy from $23.00 to $28.00 and gave the company a "positive" rating in a research note on Wednesday, October 16th. Bank of America dropped their price objective on shares of Fluence Energy from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Baird R W lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Finally, Truist Financial raised their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.65.
Check Out Our Latest Stock Analysis on FLNC
Fluence Energy Stock Performance
The company has a market cap of $2.72 billion, a price-to-earnings ratio of 115.38, a PEG ratio of 0.54 and a beta of 2.39. The company's 50 day moving average price is $19.77 and its 200-day moving average price is $19.25.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its 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. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.02 EPS. As a group, sell-side analysts forecast that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.
Hedge Funds Weigh In On Fluence Energy
Several institutional investors and hedge funds have recently bought and sold shares of FLNC. Blue Trust Inc. acquired a new stake in shares of Fluence Energy during the second quarter worth approximately $58,000. Bank of New York Mellon Corp grew its holdings in shares of Fluence Energy by 19.6% during 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Fluence Energy by 305.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 30,952 shares of the company's stock worth $537,000 after acquiring an additional 23,319 shares during the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in shares of Fluence Energy during the second quarter worth $26,877,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fluence Energy by 1,355.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company's stock valued at $17,758,000 after purchasing an additional 953,761 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.
About Fluence Energy
(
Get Free Report)
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.
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