Fluence Energy (NASDAQ:FLNC) Shares Gap Up to $18.92

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $18.92, but opened at $19.86. Fluence Energy shares last traded at $20.49, with a volume of 386,841 shares changing hands.

Analyst Ratings Changes

A number of research firms recently commented on FLNC. Scotiabank raised Fluence Energy to a “hold” rating in a research report on Friday, July 12th. Bank of America lowered their target price 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. Piper Sandler cut their price target on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Truist Financial assumed coverage on shares of Fluence Energy in a research report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Trading Up 7.2 %

The stock has a market capitalization of $3.64 billion, a PE ratio of -52.49, a PEG ratio of 3.14 and a beta of 2.51. The business has a fifty day moving average price of $17.07 and a 200-day moving average price of $17.76.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price 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 of the company’s stock, valued at $1,107,123.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently bought and sold shares of the business. PARK CIRCLE Co purchased a new position in shares of Fluence Energy during the second quarter valued at approximately $28,000. Pflug Koory LLC purchased a new position in Fluence Energy during the first quarter valued at $35,000. Quarry LP bought a new stake in Fluence Energy in the fourth quarter worth $38,000. Baillie Gifford & Co. purchased a new stake in shares of Fluence Energy in the first quarter worth $38,000. Finally, GAMMA Investing LLC increased its holdings in shares of Fluence Energy by 264.9% during the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after acquiring an additional 2,146 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

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.