Fluence Energy (NASDAQ:FLNC) Given Neutral Rating at Robert W. Baird

Fluence Energy (NASDAQ:FLNC - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Robert W. Baird in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $20.00 target price on the stock, down from their prior target price of $24.00. Robert W. Baird's price objective indicates a potential upside of 24.46% from the stock's previous close.

Several other research firms also recently issued reports on FLNC. Susquehanna boosted their price target 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 lowered their price target on shares of Fluence Energy from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, November 27th. Royal Bank of Canada lowered their target price on shares of Fluence Energy from $28.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, November 27th. Finally, Guggenheim reiterated a "buy" rating and set a $26.00 target price on shares of Fluence Energy in a research report on Friday, December 6th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.65.

Fluence Energy Price Performance

FLNC stock traded down $0.97 during midday trading on Wednesday, reaching $16.07. 3,574,052 shares of the company were exchanged, compared to its average volume of 2,363,431. Fluence Energy has a one year low of $12.74 and a one year high of $27.39. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 123.62, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The business has a 50-day moving average price of $19.99 and a two-hundred day moving average price of $19.30.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its 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 the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Fluence Energy's revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 EPS. As a group, analysts anticipate that Fluence Energy will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its holdings 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 purchasing an additional 2,047,063 shares during the period. Lazard Freres Gestion S.A.S. bought a new position in Fluence Energy during the 2nd quarter worth $26,877,000. Erste Asset Management GmbH acquired a new position in Fluence Energy during the 3rd quarter worth about $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy in the 3rd quarter valued at about $21,809,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fluence Energy by 1,355.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company's stock valued at $17,758,000 after buying an additional 953,761 shares during the period. 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.