Fluence Energy (NASDAQ:FLNC) Given New $47.00 Price Target at Evercore ISI

Fluence Energy (NASDAQ:FLNCFree Report) had its price objective trimmed by Evercore ISI from $59.00 to $47.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on FLNC. Roth Mkm reissued a buy rating and set a $27.00 price objective (down previously from $31.00) on shares of Fluence Energy in a research report on Friday. BMO Capital Markets raised Fluence Energy from a market perform rating to an outperform rating and set a $27.00 price objective for the company in a research report on Tuesday, January 16th. Morgan Stanley decreased their price objective on Fluence Energy from $32.00 to $30.00 and set an equal weight rating for the company in a report on Friday. Piper Sandler reduced their price target on Fluence Energy from $20.00 to $18.00 and set a neutral rating for the company in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on shares of Fluence Energy from $32.00 to $26.00 and set a buy rating on the stock in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $29.06.

Read Our Latest Report on Fluence Energy

Fluence Energy Price Performance

NASDAQ:FLNC opened at $17.41 on Monday. Fluence Energy has a 1 year low of $13.03 and a 1 year high of $31.32. The stock has a 50-day moving average price of $16.55 and a two-hundred day moving average price of $19.13.

Fluence Energy (NASDAQ:FLNCGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The business had revenue of $623.14 million for the quarter, compared to analysts’ expectations of $538.42 million. During the same quarter in the previous year, the business posted ($0.21) EPS. Fluence Energy’s revenue for the quarter was down 10.7% on a year-over-year basis. Research analysts expect that Fluence Energy will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. DNB Asset Management AS acquired a new stake in Fluence Energy during the 4th quarter valued at $666,000. Schroder Investment Management Group lifted its stake in shares of Fluence Energy by 65.2% during the 3rd quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock worth $61,950,000 after buying an additional 1,063,609 shares during the last quarter. Wellington Management Group LLP acquired a new position in Fluence Energy in the 3rd quarter valued at about $5,916,000. Assenagon Asset Management S.A. raised its holdings in Fluence Energy by 6.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock valued at $326,000 after acquiring an additional 849 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Fluence Energy by 43.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 909,841 shares of the company’s stock worth $22,364,000 after acquiring an additional 275,489 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Company Profile

(Get Free Report)

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.

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