Fluence Energy (NASDAQ:FLNC) Earns Buy Rating from Guggenheim

Fluence Energy (NASDAQ:FLNC)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a research note issued to investors on Friday,Benzinga reports. They currently have a $26.00 price target on the stock. Guggenheim’s price objective indicates a potential upside of 54.39% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $32.00 to $24.00 in a report on Tuesday, October 1st. BMO Capital Markets boosted their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada lowered their target price on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a report on Friday, November 8th. Finally, Susquehanna boosted their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.85.

Fluence Energy Trading Down 1.4 %

Shares of NASDAQ:FLNC traded down $0.24 during mid-day trading on Friday, reaching $16.84. The company had a trading volume of 2,075,873 shares, compared to its average volume of 2,255,995. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 129.54, a PEG ratio of 0.61 and a beta of 2.39. The company’s 50-day moving average price is $20.74 and its 200-day moving average price is $19.63. Fluence Energy has a one year low of $12.74 and a one year high of $27.39.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 0.89% and a return on equity of 4.10%. Fluence Energy’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. On average, research analysts anticipate that Fluence Energy will post 0.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its position in Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after acquiring an additional 2,047,063 shares in the last quarter. FMR LLC boosted its position in Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares during the period. Lazard Freres Gestion S.A.S. purchased a new stake in Fluence Energy during the second quarter valued at about $26,877,000. Geode Capital Management LLC boosted its position in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after buying an additional 60,633 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after buying an additional 23,927 shares during the period. 53.16% of the stock is currently 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.