Fluence Energy (NASDAQ:FLNC) Earns Neutral Rating from Robert W. Baird

Fluence Energy (NASDAQ:FLNC)‘s stock had its “neutral” rating reiterated by investment analysts at Robert W. Baird in a report released on Wednesday, MarketBeat.com reports. They currently have a $20.00 target price on the stock, down from their prior target price of $24.00. Robert W. Baird’s price target would suggest a potential upside of 33.33% from the company’s current price.

A number of other equities analysts also recently commented on FLNC. Piper Sandler lifted their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reduced their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Susquehanna raised their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Finally, Canaccord Genuity Group decreased their target price on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Stock Down 6.7 %

Fluence Energy stock opened at $15.00 on Wednesday. The company has a fifty day simple moving average of $19.77 and a 200-day simple moving average of $19.25. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 115.38, a PEG ratio of 0.54 and a beta of 2.39. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the company earned $0.02 EPS. Fluence Energy’s revenue was up 82.5% compared to the same quarter last year. On average, research analysts anticipate that Fluence Energy will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently added to or reduced their stakes in FLNC. Blue Trust Inc. acquired a new position in shares of Fluence Energy in the second quarter worth $58,000. Bank of New York Mellon Corp grew its stake in Fluence Energy by 19.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company’s stock worth $3,775,000 after purchasing an additional 35,701 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Fluence Energy by 305.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 30,952 shares of the company’s stock worth $537,000 after purchasing an additional 23,319 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in Fluence Energy during the 2nd quarter worth about $26,877,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Fluence Energy by 1,355.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after purchasing an additional 953,761 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.