Fluence Energy (NASDAQ:FLNC) Given New $22.00 Price Target at Barclays

Fluence Energy (NASDAQ:FLNC) had its price target reduced by Barclays from $28.00 to $22.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

FLNC has been the topic of a number of other research reports. Truist Financial upped their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $15.00 in a research report on Wednesday. Piper Sandler upped their price objective on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Finally, Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.80.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $13.33 on Wednesday. The company has a 50 day simple moving average of $17.36 and a two-hundred day simple moving average of $18.55. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $26.12. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 102.54, a P/E/G ratio of 0.47 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, analysts forecast that Fluence Energy will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in Fluence Energy by 40.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 735,183 shares of the company’s stock worth $12,755,000 after purchasing an additional 212,654 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Fluence Energy by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after purchasing an additional 897 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of Fluence Energy during the second quarter valued at about $510,000. ProShare Advisors LLC lifted its position in shares of Fluence Energy by 17.0% in the second quarter. ProShare Advisors LLC now owns 12,328 shares of the company’s stock worth $214,000 after buying an additional 1,789 shares in the last quarter. Finally, Interval Partners LP bought a new position in Fluence Energy during the second quarter valued at approximately $619,000. 53.16% of the stock is owned by institutional investors.

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.