Truist Financial Begins Coverage on Fluence Energy (NASDAQ:FLNC)

Truist Financial began coverage on shares of Fluence Energy (NASDAQ:FLNC) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price target on the stock.

A number of other analysts also recently commented on FLNC. Piper Sandler decreased their price target on Fluence Energy from $20.00 to $18.00 and set a neutral rating for the company in a research report on Friday, May 10th. Royal Bank of Canada reissued an outperform rating and issued a $29.00 price target on shares of Fluence Energy in a report on Friday, June 14th. Raymond James upgraded shares of Fluence Energy from a market perform rating to an outperform rating and set a $22.00 price target for the company in a research report on Wednesday, April 3rd. Roth Mkm reaffirmed a buy rating and issued a $27.00 price objective (down previously from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. Finally, Guggenheim lowered shares of Fluence Energy from a buy rating to a neutral rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $27.94.

Fluence Energy Trading Up 1.9 %

NASDAQ FLNC opened at $18.54 on Wednesday. The business has a fifty day simple moving average of $20.05 and a 200 day simple moving average of $18.88. Fluence Energy has a 12 month low of $13.03 and a 12 month high of $31.32. The firm has a market capitalization of $3.33 billion, a P/E ratio of -47.54 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, May 8th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The company had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Fluence Energy will post 0.11 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Fluence Energy during the 4th quarter valued at $38,000. Pflug Koory LLC purchased a new position in Fluence Energy during the first quarter worth about $35,000. Baillie Gifford & Co. bought a new position in Fluence Energy in the 1st quarter worth about $38,000. Quest Partners LLC purchased a new stake in shares of Fluence Energy in the 4th quarter valued at about $60,000. Finally, National Bank of Canada FI boosted its position in shares of Fluence Energy by 116.3% during the 4th quarter. National Bank of Canada FI now owns 2,595 shares of the company’s stock valued at $62,000 after acquiring an additional 1,395 shares during the last quarter. 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.