Bank of America Forecasts Strong Price Appreciation for Fluence Energy (NASDAQ:FLNC) Stock

Fluence Energy (NASDAQ:FLNC) had its price target lifted by stock analysts at Bank of America from $17.00 to $25.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 5.00% from the company’s previous close.

FLNC has been the topic of a number of other research reports. Citigroup upped their price target on shares of Fluence Energy from $7.50 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Barclays lifted their target price on shares of Fluence Energy from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 25th. Hsbc Global Res cut shares of Fluence Energy from a “hold” rating to a “moderate sell” rating in a report on Wednesday, August 13th. The Goldman Sachs Group raised their price target on shares of Fluence Energy from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Finally, Wall Street Zen raised Fluence Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Four research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $13.28.

Fluence Energy Stock Down 0.5%

Shares of NASDAQ:FLNC opened at $23.81 on Tuesday. The stock has a fifty day simple moving average of $18.46 and a two-hundred day simple moving average of $11.35. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of -56.69 and a beta of 2.88. Fluence Energy has a 12-month low of $3.46 and a 12-month high of $24.79. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71.

Fluence Energy (NASDAQ:FLNC) last released its 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). Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The company’s revenue was down 15.2% on a year-over-year basis. On average, research analysts anticipate that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Canal Insurance CO lifted its position in Fluence Energy by 16.0% during the second quarter. Canal Insurance CO now owns 580,000 shares of the company’s stock valued at $3,892,000 after purchasing an additional 80,000 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Fluence Energy by 32.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 509,363 shares of the company’s stock worth $3,157,000 after buying an additional 124,203 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Fluence Energy by 616.2% during the 1st quarter. Hsbc Holdings PLC now owns 140,534 shares of the company’s stock valued at $669,000 after buying an additional 120,913 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Fluence Energy in the 2nd quarter valued at about $160,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Fluence Energy in the second quarter worth about $477,000. 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.