Fluence Energy (NASDAQ:FLNC) PT Lowered to $16.00

Fluence Energy (NASDAQ:FLNC) had its target price lowered by investment analysts at Piper Sandler from $18.00 to $16.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 0.87% from the company’s previous close.

Several other analysts also recently commented on FLNC. Roth Mkm reiterated a “buy” rating and issued a $27.00 price target (down previously from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. Bank of America decreased their target price on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Morgan Stanley dropped their price target on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Evercore ISI decreased their price objective on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $29.00 target price on shares of Fluence Energy in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.11.

Fluence Energy Price Performance

Shares of FLNC opened at $16.14 on Monday. Fluence Energy has a 1-year low of $13.03 and a 1-year high of $30.19. The stock has a market cap of $2.90 billion, a PE ratio of -41.38 and a beta of 2.51. The firm has a fifty day moving average price of $19.74 and a 200 day moving average price of $18.51.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The business had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same period in the previous year, the business earned ($0.21) EPS. The business’s quarterly revenue was down 10.7% on a year-over-year basis. As a group, equities analysts expect that Fluence Energy will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLNC. Handelsbanken Fonder AB grew its holdings in shares of Fluence Energy by 145.5% in the 4th quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after acquiring an additional 1,706,808 shares during the period. Vanguard Group Inc. increased its position in shares of Fluence Energy by 41.0% in the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock valued at $131,685,000 after buying an additional 1,605,345 shares in the last quarter. Clean Energy Transition LLP acquired a new position in shares of Fluence Energy during the 4th quarter worth $32,124,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Fluence Energy by 21.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock worth $75,086,000 after buying an additional 757,105 shares in the last quarter. Finally, Norges Bank acquired a new stake in Fluence Energy in the 4th quarter valued at about $13,931,000. 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.