Fluence Energy (NASDAQ:FLNC) Given Neutral Rating at Robert W. Baird

Robert W. Baird reiterated their neutral rating on shares of Fluence Energy (NASDAQ:FLNC) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has a $20.00 price target on the stock, down from their prior price target of $24.00.

Other equities research analysts have also issued research reports about the stock. Truist Financial raised their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lowered their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research note on Friday, November 8th. Bank of America decreased their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Guggenheim restated a “buy” rating and set a $26.00 price objective on shares of Fluence Energy in a research note on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Price Performance

Shares of NASDAQ FLNC traded down $0.50 during mid-day trading on Wednesday, hitting $15.57. The company had a trading volume of 736,284 shares, compared to its average volume of 2,356,448. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 119.77, a PEG ratio of 0.54 and a beta of 2.39. The firm’s 50 day simple moving average is $19.88 and its two-hundred day simple moving average is $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 announced 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. 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 the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. Equities analysts forecast that Fluence Energy will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently modified their holdings of FLNC. PARK CIRCLE Co purchased a new stake in shares of Fluence Energy during the second quarter valued at $28,000. US Bancorp DE raised its holdings in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. Blue Trust Inc. purchased a new stake in Fluence Energy during the second quarter valued at about $58,000. CWM LLC boosted its holdings in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Fluence Energy in the third quarter worth approximately $74,000. 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.