Susquehanna Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $23.00

Fluence Energy (NASDAQ:FLNC) had its target price lowered by Susquehanna from $24.00 to $23.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 41.54% from the company’s current price.

Several other analysts have also recently commented on FLNC. Scotiabank upgraded shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th. Royal Bank of Canada restated an “outperform” rating and set a $29.00 price target on shares of Fluence Energy in a report on Friday, June 14th. Morgan Stanley reduced their price objective on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Piper Sandler dropped their target price on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Truist Financial assumed coverage on Fluence Energy in a report on Wednesday, July 10th. They set a “buy” rating and a $25.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Fluence Energy Stock Up 2.1 %

Shares of FLNC traded up $0.33 during mid-day trading on Friday, reaching $16.25. The company’s stock had a trading volume of 3,550,781 shares, compared to its average volume of 2,456,117. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -41.67 and a beta of 2.50. The business has a fifty day moving average of $18.15 and a 200 day moving average of $18.01. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $30.19.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The firm had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same period in the prior year, the business earned ($0.21) EPS. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. On average, analysts predict that Fluence Energy will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Fluence Energy by 11.9% during the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after acquiring an additional 656,839 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Fluence Energy by 21.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock worth $75,086,000 after purchasing an additional 757,105 shares during the period. Handelsbanken Fonder AB raised its position in shares of Fluence Energy by 145.5% during the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock valued at $68,689,000 after buying an additional 1,706,808 shares during the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in shares of Fluence Energy in the second quarter valued at about $26,877,000. Finally, Clearbridge Investments LLC grew its position in Fluence Energy by 3.7% during the first quarter. Clearbridge Investments LLC now owns 1,476,914 shares of the company’s stock worth $25,610,000 after buying an additional 52,744 shares in the last quarter. 53.16% of the stock is owned by 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.