Fluence Energy (NASDAQ:FLNC) Cut to Hold at Baird R W

Baird R W downgraded shares of Fluence Energy (NASDAQ:FLNC) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

FLNC has been the topic of a number of other reports. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $32.00 to $24.00 in a report on Tuesday, October 1st. Guggenheim reiterated a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a research note on Friday, December 6th. Truist Financial boosted their price target on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada decreased their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $15.21 on Wednesday. The company’s 50-day moving average price is $19.64 and its two-hundred day moving average price is $19.18. Fluence Energy has a one year low of $12.74 and a one year high of $26.12. The stock has a market capitalization of $2.75 billion, a PE ratio of 117.00, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Fluence Energy’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 earnings per share. On average, analysts anticipate that Fluence Energy will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently added to or reduced their stakes in FLNC. Hsbc Holdings PLC raised its holdings in Fluence Energy by 3.8% in the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after acquiring an additional 897 shares in the last quarter. US Bancorp DE increased its position in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the period. Blue Trust Inc. raised its stake in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after purchasing an additional 1,502 shares in the last quarter. PARK CIRCLE Co bought a new stake in Fluence Energy during the second quarter worth about $28,000. Finally, CWM LLC grew its stake in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.