Fluence Energy (NASDAQ:FLNC) Lowered to “Hold” Rating by Baird R W

Baird R W downgraded shares of Fluence Energy (NASDAQ:FLNC) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other analysts have also commented on the stock. Jefferies Financial Group initiated coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. Robert W. Baird restated a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research report on Wednesday. Bank of America reduced their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BMO Capital Markets raised their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Canaccord Genuity Group decreased their target price 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. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Fluence Energy has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Stock Down 2.7 %

NASDAQ:FLNC traded down $0.43 during mid-day trading on Wednesday, reaching $15.64. The company’s stock had a trading volume of 666,367 shares, compared to its average volume of 2,356,117. The firm has a market capitalization of $2.83 billion, a PE ratio of 120.31, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The stock has a fifty day moving average of $19.88 and a 200-day moving average of $19.28. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.02 EPS. Fluence Energy’s revenue was up 82.5% on a year-over-year basis. On average, analysts expect that Fluence Energy will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in shares of Fluence Energy by 3.8% in the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after buying an additional 897 shares during the last quarter. US Bancorp DE lifted its position in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the period. Blue Trust Inc. grew its stake in shares of Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after purchasing an additional 1,502 shares during the last quarter. PARK CIRCLE Co purchased a new position in shares of Fluence Energy in the 2nd quarter valued at approximately $28,000. Finally, CWM LLC raised its position in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.