Fluence Energy (NASDAQ:FLNC) PT Lowered to $28.00 at Barclays

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by Barclays from $30.00 to $28.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 79.49% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Truist Financial initiated coverage on shares of Fluence Energy in a report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price objective for the company. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Wednesday, April 3rd. Morgan Stanley dropped their price objective on shares of Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 price objective on shares of Fluence Energy in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and a consensus price target of $28.22.

Fluence Energy Stock Up 0.1 %

Fluence Energy stock opened at $15.60 on Friday. Fluence Energy has a 52-week low of $13.03 and a 52-week high of $30.19. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -40.00 and a beta of 2.50. The company has a fifty day simple moving average of $19.58 and a 200-day simple moving average of $18.43.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The business had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, research analysts anticipate that Fluence Energy will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in shares of Fluence Energy by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company’s stock worth $3,775,000 after purchasing an additional 35,701 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fluence Energy during the second quarter worth about $184,000. Blue Trust Inc. acquired a new stake in shares of Fluence Energy during the second quarter worth about $58,000. James J. Burns & Company LLC acquired a new stake in shares of Fluence Energy during the second quarter worth about $173,000. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Fluence Energy during the second quarter worth about $209,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.