Fluence Energy (NASDAQ:FLNC) Hits New 12-Month High – What’s Next?

by · The Markets Daily

Shares of Fluence Energy, Inc. (NASDAQ:FLNC – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $24.31 and last traded at $23.7630, with a volume of 2348126 shares trading hands. The stock had previously closed at $23.34.

Analyst Upgrades and Downgrades

FLNC has been the topic of several analyst reports. Citigroup raised their target price on Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank Of Canada boosted their target price on shares of Fluence Energy from $9.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 26th. BNP Paribas set a $9.00 price target on shares of Fluence Energy and gave the company an “underperform” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of Fluence Energy from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, Roth Capital upped their price objective on shares of Fluence Energy from $7.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $12.48.

View Our Latest Research Report on FLNC

Fluence Energy Price Performance

The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $17.52 and its two-hundred day moving average price is $10.79. The company has a market cap of $4.51 billion, a P/E ratio of -58.85 and a beta of 2.88.

Fluence Energy (NASDAQ:FLNC – Get Free Report) last announced its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, sell-side analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Fluence Energy

Hedge funds have recently added to or reduced their stakes in the business. Canal Insurance CO boosted its holdings in shares of Fluence Energy by 16.0% in the 2nd quarter. Canal Insurance CO now owns 580,000 shares of the company’s stock valued at $3,892,000 after buying an additional 80,000 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Fluence Energy by 32.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 509,363 shares of the company’s stock valued at $3,157,000 after acquiring an additional 124,203 shares during the period. Mizuho Markets Americas LLC grew its holdings in shares of Fluence Energy by 343.1% during the first quarter. Mizuho Markets Americas LLC now owns 281,185 shares of the company’s stock valued at $1,364,000 after purchasing an additional 217,725 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Fluence Energy by 616.2% during the 1st quarter. Hsbc Holdings PLC now owns 140,534 shares of the company’s stock worth $669,000 after purchasing an additional 120,913 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Fluence Energy in the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

About Fluence Energy

(Get Free Report)

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.

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