Robert W. Baird Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $24.00

Fluence Energy (NASDAQ:FLNC) had its price objective reduced by Robert W. Baird from $27.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. BMO Capital Markets increased 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. Truist Financial increased their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Bank of America lowered their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.85.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $18.81 on Wednesday. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $27.80. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 144.69, a PEG ratio of 0.62 and a beta of 2.54. The firm’s 50-day moving average is $21.08 and its 200-day moving average is $19.65.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently bought and sold shares of FLNC. Vanguard Group Inc. raised its position in shares of Fluence Energy by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after acquiring an additional 656,839 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Fluence Energy by 10.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,689 shares of the company’s stock worth $394,000 after purchasing an additional 2,081 shares in the last quarter. Comerica Bank lifted its stake in Fluence Energy by 79.1% in the first quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $73,000 after buying an additional 1,860 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Fluence Energy by 264.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after buying an additional 2,146 shares in the last quarter. Finally, Renaissance Capital LLC grew its position in shares of Fluence Energy by 42.0% during the 2nd quarter. Renaissance Capital LLC now owns 54,288 shares of the company’s stock worth $941,000 after buying an additional 16,045 shares during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.