Fluence Energy (NASDAQ:FLNC) Price Target Raised to $28.00

Fluence Energy (NASDAQ:FLNC) had its price objective upped by analysts at Truist Financial from $25.00 to $28.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 28.15% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Susquehanna raised their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday. Bank of America lowered their price objective on Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Citigroup lowered Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and a consensus price target of $26.53.

Fluence Energy Trading Up 2.6 %

Shares of FLNC traded up $0.55 during midday trading on Wednesday, reaching $21.85. The stock had a trading volume of 396,460 shares, compared to its average volume of 2,243,065. The firm has a 50 day simple moving average of $19.73 and a 200-day simple moving average of $18.88. Fluence Energy has a one year low of $12.74 and a one year high of $27.80. The firm has a market cap of $3.92 billion, a PE ratio of -55.90, a P/E/G ratio of 0.75 and a beta of 2.54.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, with a total value of $168,100.00. Following the acquisition, the director now directly owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Fluence Energy by 41.0% during the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock valued at $131,685,000 after acquiring an additional 1,605,345 shares during the period. Quadrature Capital Ltd bought a new position in Fluence Energy during the 4th quarter valued at approximately $1,136,000. Pflug Koory LLC bought a new position in Fluence Energy during the 1st quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Fluence Energy in the 1st quarter worth $132,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Fluence Energy by 161.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 42,675 shares of the company’s stock worth $740,000 after purchasing an additional 26,325 shares in the last quarter. Hedge funds and other institutional investors 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.