Fluence Energy (NASDAQ:FLNC) Lowered to Hold Rating by Baird R W

Fluence Energy (NASDAQ:FLNC) was downgraded by equities researchers at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms also recently commented on FLNC. BMO Capital Markets lifted their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research report on Friday, November 8th. Jefferies Financial Group started coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Canaccord Genuity Group cut their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday, November 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Fluence Energy currently has an average rating of “Moderate Buy” and an average target price of $26.65.

Fluence Energy Stock Performance

Shares of FLNC traded down $0.04 on Wednesday, reaching $16.03. The stock had a trading volume of 169,254 shares, compared to its average volume of 2,353,877. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 123.31, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The company has a 50-day simple moving average of $19.88 and a 200-day simple moving average of $19.28. Fluence Energy has a 12-month low of $12.74 and a 12-month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its 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. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, analysts expect that Fluence Energy will post 0.56 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNC. Franklin Resources Inc. boosted its stake in shares of Fluence Energy by 11.8% during the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after purchasing an additional 17,551 shares during the period. Geode Capital Management LLC increased its position in shares of Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after acquiring an additional 60,633 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Fluence Energy by 76.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock valued at $585,000 after acquiring an additional 11,138 shares in the last quarter. Barclays PLC boosted its holdings in shares of Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after purchasing an additional 135,957 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in Fluence Energy in the third quarter worth approximately $1,234,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.