Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) Price Target at $26.65

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $26.65.

A number of brokerages recently weighed in on FLNC. Piper Sandler lifted their price target on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Guggenheim reissued a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a research report on Friday, December 6th. Canaccord Genuity Group reduced their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Susquehanna lifted 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, Citigroup lowered Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $32.00 to $24.00 in a report on Tuesday, October 1st.

Fluence Energy Price Performance

NASDAQ FLNC opened at $17.35 on Friday. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $26.12. The company has a market capitalization of $3.14 billion, a P/E ratio of 133.46, a PEG ratio of 0.54 and a beta of 2.39. The company’s 50 day simple moving average is $18.70 and its 200 day simple moving average is $18.77.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results 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. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, analysts anticipate that Fluence Energy will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently modified their holdings of FLNC. Handelsbanken Fonder AB grew its stake in Fluence Energy by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after buying an additional 2,047,063 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Fluence Energy in the third quarter valued at about $22,059,000. Point72 Asset Management L.P. bought a new position in shares of Fluence Energy in the third quarter worth about $21,809,000. Principal Financial Group Inc. acquired a new position in shares of Fluence Energy during the 3rd quarter worth about $5,742,000. Finally, Zimmer Partners LP bought a new stake in Fluence Energy during the 3rd quarter valued at approximately $5,678,000. Institutional investors 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.