Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) PT at $19.53

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned a consensus rating of “Hold” from the twenty-three brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.5263.

A number of research firms have weighed in on FLNC. The Goldman Sachs Group restated a “buy” rating and issued a $22.00 price target on shares of Fluence Energy in a research note on Thursday, May 7th. Weiss Ratings cut Fluence Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on Fluence Energy from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Truist Financial began coverage on Fluence Energy in a research report on Monday, July 13th. They set a “hold” rating and a $16.00 target price on the stock. Finally, Barclays cut their target price on Fluence Energy from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, April 13th.

Insiders Place Their Bets

In other Fluence Energy news, Director Heynitz Harald Von sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director owned 58,550 shares of the company’s stock, valued at approximately $1,463,750. This trade represents a 7.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Zahurancik sold 15,974 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total transaction of $351,907.22. Following the completion of the transaction, the senior vice president owned 71,171 shares of the company’s stock, valued at approximately $1,567,897.13. The trade was a 18.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 2,904,146 shares of company stock valued at $61,090,399. 0.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Fluence Energy by 24.4% in the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock valued at $42,460,000 after purchasing an additional 604,983 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Fluence Energy by 5,489.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock valued at $60,247,000 after purchasing an additional 2,991,292 shares during the period. UBS Group AG grew its stake in Fluence Energy by 65.2% during the 4th quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock worth $51,940,000 after buying an additional 1,036,423 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Fluence Energy by 11.3% during the 3rd quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock worth $24,114,000 after buying an additional 227,080 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Price Performance

Shares of FLNC opened at $12.62 on Friday. Fluence Energy has a twelve month low of $6.60 and a twelve month high of $33.51. The firm’s fifty day simple moving average is $19.69 and its 200-day simple moving average is $18.85. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -35.05 and a beta of 2.75. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The business had revenue of $464.89 million during the quarter, compared to analysts’ expectations of $614.93 million. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.24) EPS. Equities analysts forecast that Fluence Energy will post -0.18 EPS for the current fiscal year.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.