Canaccord Genuity Group Has Lowered Expectations for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by research analysts at Canaccord Genuity Group from $37.00 to $34.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 85.69% from the stock’s previous close.

Several other brokerages have also recently commented on FLNC. Bank of America lowered their price target 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. Piper Sandler lifted their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Susquehanna increased their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price target on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, August 9th. Five equities 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.85.

Fluence Energy Stock Down 0.3 %

Shares of NASDAQ:FLNC traded down $0.06 during trading on Friday, reaching $18.31. 415,065 shares of the company traded hands, compared to its average volume of 2,235,726. The firm has a fifty day simple moving average of $21.14 and a 200 day simple moving average of $19.64. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $27.80. The firm has a market cap of $3.30 billion, a P/E ratio of 140.85, a price-to-earnings-growth ratio of 0.62 and a beta of 2.54.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake 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 valued at $107,130,000 after purchasing an additional 656,839 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Fluence Energy by 10.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,689 shares of the company’s stock worth $394,000 after acquiring an additional 2,081 shares in the last quarter. Comerica Bank lifted its holdings in shares of Fluence Energy by 79.1% during the first quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $73,000 after acquiring an additional 1,860 shares during the period. GAMMA Investing LLC boosted its stake in shares of Fluence Energy by 264.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after purchasing an additional 2,146 shares in the last quarter. Finally, Renaissance Capital LLC grew its holdings in shares of Fluence Energy by 42.0% in the 2nd quarter. Renaissance Capital LLC now owns 54,288 shares of the company’s stock worth $941,000 after purchasing an additional 16,045 shares during the last quarter. 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.