Fluence Energy (NASDAQ:FLNC) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Fluence Energy (NASDAQ:FLNC) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

FLNC has been the topic of a number of other reports. Citigroup boosted their price target on shares of Fluence Energy from $15.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Glj Research initiated coverage on shares of Fluence Energy in a report on Wednesday, July 1st. They issued a “buy” rating and a $26.00 price objective for the company. BMO Capital Markets reiterated a “market perform” rating and set a $15.00 price objective on shares of Fluence Energy in a research note on Wednesday, April 29th. Needham & Company LLC started coverage on Fluence Energy in a report on Friday, March 20th. They set a “hold” rating on the stock. Finally, Canaccord Genuity Group set a $28.00 price target on Fluence Energy in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.63.

Fluence Energy Price Performance

Shares of FLNC opened at $15.37 on Tuesday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -42.69 and a beta of 2.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.91 and a current ratio of 1.43. Fluence Energy has a one year low of $6.60 and a one year high of $33.51. The stock’s fifty day moving average is $20.97 and its 200-day moving average is $19.28.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.24) earnings per share. Equities analysts anticipate that Fluence Energy will post -0.21 EPS for the current year.

Insider Buying and Selling at Fluence Energy

In other news, major shareholder Qatar Investment Authority sold 2,867,172 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the completion of the sale, the insider owned 11,801,103 shares in the company, valued at approximately $247,823,163. This represents a 19.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Heynitz Harald Von sold 5,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director directly owned 58,550 shares of the company’s stock, valued at approximately $1,463,750. This represents a 7.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 2,904,146 shares of company stock valued at $61,090,399. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of FLNC. Steadtrust LLC acquired a new position in shares of Fluence Energy in the 2nd quarter valued at $235,000. Assenagon Asset Management S.A. acquired a new stake in Fluence Energy during the 2nd quarter worth about $510,000. Bank of America Corp DE raised its holdings in Fluence Energy by 24.4% during the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock worth $42,460,000 after buying an additional 604,983 shares during the period. Edgestream Partners L.P. lifted its stake in Fluence Energy by 1,086.3% during the first quarter. Edgestream Partners L.P. now owns 385,804 shares of the company’s stock valued at $5,309,000 after buying an additional 353,282 shares in the last quarter. Finally, Altshuler Shaham Ltd lifted its stake in Fluence Energy by 84.6% during the first quarter. Altshuler Shaham Ltd now owns 84,150 shares of the company’s stock valued at $1,158,000 after buying an additional 38,556 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.