Morgan Stanley Remains a Hold on Fluence Energy (FLNC)

Morgan Stanley analyst Stephen Byrd maintained a Hold rating on Fluence Energy (FLNCResearch Report) today and set a price target of $18.00. The company’s shares opened today at $17.72.

Byrd covers the Utilities sector, focusing on stocks such as Ameren, American Electric Power, and Atmos Energy. According to TipRanks, Byrd has an average return of 11.3% and a 60.58% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fluence Energy with a $21.89 average price target, which is a 23.53% upside from current levels. In a report released on September 8, Goldman Sachs also maintained a Hold rating on the stock with a $19.00 price target.

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Based on Fluence Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $239.01 million and a GAAP net loss of $19.35 million. In comparison, last year the company earned a revenue of $278.2 million and had a net profit of $0

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FLNC in relation to earlier this year. Earlier this month, Fehr Dennis, the SVP & CFO of FLNC sold 15,576.00 shares for a total of $290,336.64.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Fluence Energy Inc is enabling the global clean energy transition with market- leading energy storage products and services, and digital applications for renewables and storage.

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