Barclays Forecasts Strong Price Appreciation for Fluence Energy (NASDAQ:FLNC) Stock

Fluence Energy (NASDAQ:FLNC) had its price target increased by Barclays from $5.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 0.45% from the stock’s previous close.

FLNC has been the topic of a number of other research reports. BMO Capital Markets set a $5.00 price target on shares of Fluence Energy and gave the stock a “market perform” rating in a research note on Wednesday, June 25th. Canaccord Genuity Group cut their price target on shares of Fluence Energy from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Guggenheim cut their price target on shares of Fluence Energy from $6.00 to $2.00 and set a “sell” rating on the stock in a research note on Tuesday, April 15th. HSBC downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research note on Monday, April 28th. Finally, Susquehanna cut their price target on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.78.

Fluence Energy Stock Performance

Shares of FLNC opened at $8.96 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -40.73 and a beta of 2.65. The company’s 50 day simple moving average is $6.09 and its 200 day simple moving average is $7.32. Fluence Energy has a 1 year low of $3.46 and a 1 year high of $24.00.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $431.62 million for the quarter, compared to analysts’ expectations of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The business’s quarterly revenue was down 30.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) EPS. On average, sell-side analysts predict that Fluence Energy will post 0.08 EPS for the current year.

Insider Activity

In other Fluence Energy news, Director Cynthia A. Arnold acquired 33,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $5.90 per share, with a total value of $194,700.00. Following the completion of the transaction, the director directly owned 86,202 shares of the company’s stock, valued at approximately $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Fluence Energy by 257.2% in the fourth quarter. Millennium Management LLC now owns 720,828 shares of the company’s stock valued at $11,447,000 after purchasing an additional 519,049 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Fluence Energy in the fourth quarter valued at $1,221,000. Janney Montgomery Scott LLC purchased a new position in shares of Fluence Energy in the first quarter valued at $403,000. Trexquant Investment LP boosted its stake in shares of Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after purchasing an additional 747,103 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Fluence Energy in the first quarter valued at $128,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

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.