Fluence Energy (NASDAQ:FLNC – Get Free Report) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat reports. The firm presently has a $23.00 target price on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 56.20% from the stock’s previous close.
Other research analysts have also issued reports about the company. Roth Capital raised Fluence Energy from a “neutral” rating to a “buy” rating in a report on Monday, December 4th. Royal Bank of Canada increased their price objective on Fluence Energy from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, December 11th. BMO Capital Markets raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Tuesday, January 16th. Morgan Stanley boosted their target price on shares of Fluence Energy from $27.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, December 8th. Finally, Piper Sandler raised their target price on Fluence Energy from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.56.
Read Our Latest Stock Report on Fluence Energy
Fluence Energy Stock Performance
Shares of FLNC opened at $14.73 on Friday. The firm has a fifty day moving average of $21.53 and a 200-day moving average of $21.92. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -27.78 and a beta of 2.77. Fluence Energy has a 1 year low of $13.41 and a 1 year high of $31.32.
Fluence Energy (NASDAQ:FLNC – Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $363.96 million during the quarter, compared to the consensus estimate of $403.93 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. Fluence Energy’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.21) EPS. Analysts predict that Fluence Energy will post 0.11 EPS for the current year.
Insider Activity at Fluence Energy
In other news, major shareholder Siemens Pension Trust E. V sold 7,087,500 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $22.05, for a total transaction of $156,279,375.00. Following the sale, the insider now owns 11,761,131 shares in the company, valued at $259,332,938.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Fluence Energy
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. National Bank of Canada FI acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at approximately $27,000. Quarry LP acquired a new position in shares of Fluence Energy in the 4th quarter valued at $38,000. Allspring Global Investments Holdings LLC increased its position in shares of Fluence Energy by 185.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after buying an additional 1,388 shares in the last quarter. Comerica Bank increased its position in shares of Fluence Energy by 724.9% in the 4th quarter. Comerica Bank now owns 2,351 shares of the company’s stock valued at $56,000 after buying an additional 2,066 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Fluence Energy during the fourth quarter worth about $60,000. 53.16% of the stock is owned by institutional investors.
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.
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