Robert W. Baird Reiterates Neutral Rating for Fluence Energy (NASDAQ:FLNC)

Robert W. Baird reaffirmed their neutral rating on shares of Fluence Energy (NASDAQ:FLNC) in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have a $20.00 target price on the stock, down from their prior target price of $24.00.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group dropped their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Piper Sandler boosted their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Jefferies Financial Group started coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Truist Financial boosted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Bank of America decreased their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.65.

Fluence Energy Stock Up 1.4 %

NASDAQ:FLNC opened at $15.21 on Wednesday. The company’s 50 day moving average is $19.64 and its 200-day moving average is $19.18. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $26.12. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 117.00, a P/E/G ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. Research analysts predict that Fluence Energy will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Fluence Energy in the third quarter valued at approximately $22,059,000. XTX Topco Ltd bought a new position in Fluence Energy in the 3rd quarter worth approximately $825,000. Nicola Wealth Management LTD. lifted its holdings in Fluence Energy by 62.0% during the 3rd quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock worth $1,840,000 after buying an additional 31,000 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in Fluence Energy by 124.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock valued at $1,340,000 after buying an additional 32,699 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.