Fluence Energy (NASDAQ:FLNC) Price Target Raised to $18.00

Fluence Energy (NASDAQ:FLNC) had its target price boosted by Piper Sandler from $16.00 to $18.00 in a research report report published on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on FLNC. Barclays dropped their price target on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. Bank of America reduced their price target on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. Finally, BMO Capital Markets increased their target price on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.11.

Fluence Energy Trading Down 0.4 %

Shares of FLNC stock opened at $20.66 on Tuesday. Fluence Energy has a 12-month low of $12.74 and a 12-month high of $27.80. The business’s 50 day moving average is $20.45 and its two-hundred day moving average is $19.08. The company has a market capitalization of $3.71 billion, a P/E ratio of -52.97, a P/E/G ratio of 0.75 and a beta of 2.54.

Insider Activity

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the transaction, the director now owns 65,861 shares in the company, valued at approximately $1,107,123.41. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Fluence Energy in the third quarter valued at $1,375,000. International Assets Investment Management LLC increased its position in shares of Fluence Energy by 2,170.9% during the 3rd quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock worth $245,000 after purchasing an additional 10,312 shares during the last quarter. Blue Trust Inc. raised its holdings in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares during the period. Renaissance Capital LLC lifted its position in Fluence Energy by 20.0% in the third quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock valued at $1,480,000 after buying an additional 10,881 shares during the last quarter. Finally, CWM LLC lifted its position in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.