Johnson Rice Reiterates Hold Rating for Fluence Energy (NASDAQ:FLNC)

Fluence Energy (NASDAQ:FLNC)‘s stock had its “hold” rating reaffirmed by equities researchers at Johnson Rice in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $18.00 price target on the stock. Johnson Rice’s target price would indicate a potential downside of 24.81% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. UBS Group upped their target price on Fluence Energy from $8.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Morgan Stanley upped their price objective on Fluence Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. HSBC lowered Fluence Energy from a “hold” rating to a “reduce” rating and set a $5.00 target price on the stock. in a report on Wednesday, August 13th. Canaccord Genuity Group upped their price target on shares of Fluence Energy from $10.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Fluence Energy from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Reduce” and an average target price of $13.28.

Fluence Energy Stock Performance

Shares of FLNC opened at $23.94 on Monday. The firm has a market capitalization of $4.38 billion, a PE ratio of -57.00 and a beta of 2.88. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $18.26 and a 200 day moving average price of $11.26. Fluence Energy has a 52-week low of $3.46 and a 52-week high of $24.79.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 24th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.39 billion. Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, sell-side analysts anticipate that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Fluence Energy

A number of hedge funds have recently bought and sold shares of the company. Dragoneer Investment Group LLC acquired a new position in shares of Fluence Energy in the third quarter worth about $65,883,000. Goldman Sachs Group Inc. boosted its stake in Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the period. Millennium Management LLC boosted its stake in Fluence Energy by 11.3% in the 3rd quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock worth $24,114,000 after purchasing an additional 227,080 shares during the period. Voloridge Investment Management LLC grew its position in Fluence Energy by 82.6% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,965,083 shares of the company’s stock worth $21,223,000 after purchasing an additional 888,893 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Fluence Energy by 1,794.8% during the 2nd quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock valued at $12,539,000 after purchasing an additional 1,770,090 shares during the period. 53.16% of the stock is 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.