Roth Mkm Reiterates Buy Rating for Fluence Energy (NASDAQ:FLNC)

Fluence Energy (NASDAQ:FLNC)‘s stock had its “buy” rating reissued by equities research analysts at Roth Mkm in a report issued on Friday, Benzinga reports. They presently have a $27.00 target price on the stock, down from their prior target price of $31.00. Roth Mkm’s price target would suggest a potential upside of 53.93% from the company’s previous close.

A number of other brokerages have also weighed in on FLNC. Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Wednesday, April 3rd. BMO Capital Markets upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Tuesday, January 16th. Piper Sandler decreased their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. The Goldman Sachs Group decreased their price target on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target for the company in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.11.

Fluence Energy Stock Down 6.5 %

Shares of FLNC traded down $1.21 during mid-day trading on Friday, reaching $17.54. 2,234,235 shares of the company’s stock were exchanged, compared to its average volume of 2,244,385. The company has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $19.15. Fluence Energy has a 52-week low of $13.03 and a 52-week high of $31.32. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -32.85 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $623.14 million during the quarter, compared to analysts’ expectations of $538.42 million. Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The company’s revenue was down 10.7% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. As a group, equities research analysts predict that Fluence Energy will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FLNC. Pflug Koory LLC bought a new position in shares of Fluence Energy in the first quarter valued at about $35,000. Quarry LP acquired a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $38,000. Baillie Gifford & Co. bought a new position in Fluence Energy in the 1st quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC raised its holdings in Fluence Energy by 185.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after buying an additional 1,388 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Fluence Energy in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.