Fluence Energy (NASDAQ:FLNC) Price Target Raised to $25.00

Fluence Energy (NASDAQ:FLNC) had its price target lifted by BMO Capital Markets from $24.00 to $25.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 17.37% from the company’s previous close.

Several other equities analysts have also recently issued reports on FLNC. JPMorgan Chase & Co. boosted their price objective on Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Jefferies Financial Group started coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. Finally, Piper Sandler lowered their price objective on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.11.

Fluence Energy Price Performance

FLNC opened at $21.30 on Monday. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.80. The stock has a market cap of $3.82 billion, a P/E ratio of -54.62, a P/E/G ratio of 0.75 and a beta of 2.54. The firm has a fifty day moving average price of $19.59 and a 200 day moving average price of $18.85.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the acquisition, the director now directly owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors have recently made changes to their positions in the company. CWM LLC boosted its stake in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after acquiring an additional 2,047,063 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after acquiring an additional 23,927 shares during the last quarter. Granite Bay Wealth Management LLC bought a new position in Fluence Energy in the second quarter valued at approximately $209,000. Finally, Scientech Research LLC bought a new position in Fluence Energy during the 2nd quarter worth approximately $438,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.