Roth Capital Forecasts Strong Price Appreciation for Fluence Energy (NASDAQ:FLNC) Stock

Fluence Energy (NASDAQ:FLNC) had its price target boosted by equities researchers at Roth Capital from $7.00 to $17.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Capital’s price target would suggest a potential upside of 2.35% from the company’s current price.

Other analysts also recently issued reports about the company. Jefferies Financial Group boosted their target price on Fluence Energy from $5.00 to $11.00 and gave the company an “underperform” rating in a report on Thursday, October 9th. Barclays set a $13.00 target price on shares of Fluence Energy in a research report on Tuesday, October 7th. Royal Bank Of Canada decreased their price target on shares of Fluence Energy from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 13th. Hsbc Global Res downgraded shares of Fluence Energy from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, August 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Fluence Energy from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.48.

Fluence Energy Stock Down 13.5%

FLNC traded down $2.60 on Thursday, reaching $16.61. The company’s stock had a trading volume of 6,820,455 shares, compared to its average volume of 5,811,208. The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. Fluence Energy has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The stock has a 50 day moving average of $14.39 and a two-hundred day moving average of $9.35. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -79.19 and a beta of 2.88.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Fluence Energy had a negative net margin of 0.76% and a negative return on equity of 3.42%. The business had revenue of $602.53 million during the quarter, compared to analysts’ expectations of $738.52 million. The company’s revenue was up 24.7% on a year-over-year basis. As a group, analysts forecast that Fluence Energy will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FLNC. Parallel Advisors LLC acquired a new stake in Fluence Energy in the second quarter valued at $30,000. Quantbot Technologies LP acquired a new stake in shares of Fluence Energy in the third quarter valued at about $51,000. Ameritas Investment Partners Inc. increased its holdings in Fluence Energy by 25.7% in the second quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock valued at $52,000 after buying an additional 1,586 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Fluence Energy by 462.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company’s stock valued at $39,000 after acquiring an additional 6,648 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Fluence Energy during the 2nd quarter worth approximately $67,000. 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.