Fluence Energy, Inc. (NASDAQ:FLNC) Given Average Recommendation of “Hold” by Analysts

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have received a consensus rating of “Hold” from the twenty-five analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.34.

A number of brokerages have recently weighed in on FLNC. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. Canaccord Genuity Group lowered their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $28.00 to $8.00 in a report on Wednesday, February 12th. The Goldman Sachs Group lowered their price objective on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th.

Insider Activity

In other Fluence Energy news, CFO Ahmed Pasha acquired 15,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the acquisition, the chief financial officer now owns 24,703 shares in the company, valued at $160,075.44. This represents a 168.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Julian Nebreda acquired 23,500 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the acquisition, the chief executive officer now owns 120,455 shares of the company’s stock, valued at $764,889.25. The trade was a 24.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 89,000 shares of company stock valued at $655,365 in the last 90 days. 0.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Fluence Energy by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,459 shares of the company’s stock worth $3,040,000 after acquiring an additional 30,252 shares during the period. Zimmer Partners LP raised its stake in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock worth $34,052,000 after acquiring an additional 1,894,301 shares during the period. Vident Advisory LLC raised its stake in Fluence Energy by 35.8% during the 4th quarter. Vident Advisory LLC now owns 13,930 shares of the company’s stock worth $221,000 after acquiring an additional 3,672 shares during the period. Wexford Capital LP bought a new stake in Fluence Energy during the 4th quarter worth approximately $2,480,000. Finally, Squarepoint Ops LLC raised its stake in Fluence Energy by 5.8% during the 4th quarter. Squarepoint Ops LLC now owns 129,866 shares of the company’s stock worth $2,062,000 after acquiring an additional 7,074 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

FLNC stock opened at $5.41 on Thursday. The firm has a 50 day moving average of $10.15 and a 200-day moving average of $16.32. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy has a 12 month low of $4.79 and a 12 month high of $26.12. The firm has a market capitalization of $982.18 million, a P/E ratio of -108.20 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, sell-side analysts predict that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

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.