Guggenheim Reiterates Buy Rating for Fluence Energy (NASDAQ:FLNC)

Fluence Energy (NASDAQ:FLNC)‘s stock had its “buy” rating restated by investment analysts at Guggenheim in a research note issued on Friday,Benzinga reports. They presently have a $26.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 53.66% from the stock’s previous close.

Several other research analysts also recently commented on FLNC. Bank of America cut their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets boosted their price target on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Jefferies Financial Group initiated coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. Susquehanna raised their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Finally, BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.85.

Fluence Energy Price Performance

Fluence Energy stock opened at $16.92 on Friday. The business has a 50 day moving average of $20.62 and a 200-day moving average of $19.62. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.39. The company has a market capitalization of $3.06 billion, a P/E ratio of 130.15, a P/E/G ratio of 0.57 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. Equities analysts anticipate that Fluence Energy will post 0.54 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. PARK CIRCLE Co purchased a new position in shares of Fluence Energy in the second quarter worth about $28,000. US Bancorp DE grew its stake in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares in the last quarter. GAMMA Investing LLC raised its holdings in Fluence Energy by 264.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after acquiring an additional 2,146 shares during the period. Blue Trust Inc. purchased a new stake in shares of Fluence Energy during the second quarter worth $58,000. Finally, CWM LLC boosted its holdings in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the period. 53.16% of the stock is currently 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.