Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been assigned a consensus recommendation of “Hold” from the twenty-two brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.1364.

A number of brokerages recently issued reports on FLNC. JPMorgan Chase & Co. upped their price target on shares of Fluence Energy from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Morgan Stanley set a $16.00 target price on shares of Fluence Energy in a research note on Monday, January 26th. Canaccord Genuity Group raised their price target on shares of Fluence Energy from $10.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Johnson Rice reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Fluence Energy in a research report on Monday, December 8th. Finally, Wall Street Zen upgraded Fluence Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd.

Fluence Energy Trading Up 2.6%

NASDAQ FLNC opened at $19.44 on Friday. The stock has a 50-day moving average of $23.44 and a 200-day moving average of $16.41. The company has a current ratio of 1.48, a quick ratio of 1.17 and a debt-to-equity ratio of 0.80. Fluence Energy has a 1-year low of $3.46 and a 1-year high of $33.51. The firm has a market cap of $3.55 billion, a PE ratio of -44.18 and a beta of 2.90.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, February 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). The company had revenue of $475.23 million during the quarter, compared to the consensus estimate of $444.23 million. Fluence Energy had a negative return on equity of 10.10% and a negative net margin of 2.04%.Fluence Energy’s quarterly revenue was up 154.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) earnings per share. As a group, sell-side analysts forecast that Fluence Energy will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently bought and sold shares of the business. FourThought Financial Partners LLC purchased a new stake in shares of Fluence Energy during the 4th quarter valued at about $559,000. Handelsbanken Fonder AB purchased a new position in shares of Fluence Energy during the fourth quarter valued at approximately $16,964,000. Capstone Capital Management Ltd bought a new position in Fluence Energy during the fourth quarter valued at approximately $247,000. Abacus Wealth Partners LLC purchased a new stake in Fluence Energy in the fourth quarter worth approximately $278,000. Finally, Pier Capital LLC grew its position in Fluence Energy by 5.8% in the 4th quarter. Pier Capital LLC now owns 213,856 shares of the company’s stock worth $4,230,000 after purchasing an additional 11,793 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.