Fluence Energy (NASDAQ:FLNC) Receives “Neutral” Rating from Robert W. Baird

Fluence Energy (NASDAQ:FLNC)‘s stock had its “neutral” rating reaffirmed by equities researchers at Robert W. Baird in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $20.00 price objective on the stock, down from their prior price objective of $24.00. Robert W. Baird’s target price suggests a potential upside of 33.33% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets raised their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada cut their price target on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Susquehanna boosted their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Canaccord Genuity Group dropped their price objective on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Jefferies Financial Group initiated coverage on Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price for the company. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Price Performance

NASDAQ:FLNC opened at $15.00 on Wednesday. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $26.12. The firm has a market capitalization of $2.72 billion, a PE ratio of 115.38, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The business’s fifty day moving average price is $19.77 and its 200 day moving average price is $19.25.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. As a group, equities analysts anticipate that Fluence Energy will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently added to or reduced their stakes in the company. PARK CIRCLE Co purchased a new position in shares of Fluence Energy during the 2nd quarter worth approximately $28,000. US Bancorp DE raised its position in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares in the last quarter. Blue Trust Inc. acquired a new stake in Fluence Energy in the second quarter valued at $58,000. CWM LLC boosted its position in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Fluence Energy during the 3rd quarter worth $74,000. Institutional investors and hedge funds 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.