Fluence Energy (NASDAQ:FLNC) Receives Buy Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Fluence Energy (NASDAQ:FLNC - Free Report) in a report issued on Friday,Benzinga reports. They currently have a $26.00 price target on the stock.

A number of other brokerages also recently issued reports on FLNC. Canaccord Genuity Group lowered their price target on Fluence Energy from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Friday, November 29th. Susquehanna increased their target price on Fluence Energy from $23.00 to $28.00 and gave the company a "positive" rating in a research report on Wednesday, October 16th. Royal Bank of Canada cut their price target on shares of Fluence Energy from $28.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, November 27th. Citigroup downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Finally, Bank of America dropped their target price 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. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.85.

Fluence Energy Stock Up 0.5 %

Shares of NASDAQ:FLNC traded up $0.08 during trading on Friday, hitting $16.92. 1,667,135 shares of the stock traded hands, compared to its average volume of 2,695,830. The company has a fifty day moving average price of $20.62 and a two-hundred day moving average price of $19.62. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $27.39. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 130.15, a P/E/G ratio of 0.57 and a beta of 2.39.

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 analysts' consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm's revenue for the quarter was up 82.5% on a year-over-year basis. On average, equities research analysts predict that Fluence Energy will post 0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in shares of Fluence Energy by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company's stock valued at $144,800,000 after purchasing an additional 2,047,063 shares during the last quarter. FMR LLC raised its holdings in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company's stock valued at $36,475,000 after buying an additional 132,868 shares during the period. Lazard Freres Gestion S.A.S. acquired a new position in Fluence Energy in the second quarter valued at about $26,877,000. Geode Capital Management LLC boosted its stake in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company's stock worth $34,253,000 after buying an additional 60,633 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company's stock valued at $26,025,000 after acquiring an additional 23,927 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.