Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) PT at $26.63

Fluence Energy, Inc. (NASDAQ:FLNC) has been given an average rating of “Moderate Buy” by the nineteen analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $26.63.

Several research firms recently issued reports on FLNC. Robert W. Baird dropped their price target on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Truist Financial assumed coverage on shares of Fluence Energy in a report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price target on the stock. Barclays cut their target price 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. Jefferies Financial Group assumed coverage on Fluence Energy in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Bank of America decreased their price objective on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 17th.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the transaction, the director now directly owns 65,861 shares in the company, valued at approximately $1,107,123.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Fluence Energy

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Fluence Energy by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after buying an additional 656,839 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Fluence Energy by 21.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock valued at $75,086,000 after purchasing an additional 757,105 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in shares of Fluence Energy during the 2nd quarter worth about $26,877,000. Clearbridge Investments LLC lifted its holdings in shares of Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after buying an additional 23,927 shares during the last quarter. Finally, Clean Energy Transition LLP bought a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $32,124,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Stock Performance

FLNC opened at $21.56 on Thursday. The company has a market cap of $3.87 billion, a PE ratio of -55.28, a price-to-earnings-growth ratio of 3.99 and a beta of 2.51. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.80. The firm has a 50 day moving average price of $17.75 and a 200 day moving average price of $18.09.

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.