Fluence Energy (NASDAQ:FLNC) Now Covered by Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Fluence Energy (NASDAQ:FLNC) in a report issued on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $26.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on FLNC. Susquehanna lowered their price target on Fluence Energy from $24.00 to $23.00 and set a positive rating for the company in a report on Friday, August 9th. Roth Mkm restated a buy rating and set a $27.00 price objective (down from $31.00) on shares of Fluence Energy in a research note on Friday, May 10th. Barclays lowered their price objective on Fluence Energy from $30.00 to $28.00 and set an overweight rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock an overweight rating in a research note on Tuesday, July 16th. Finally, Truist Financial began coverage on Fluence Energy in a research note on Wednesday, July 10th. They set a buy rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Fluence Energy currently has an average rating of Moderate Buy and a consensus price target of $26.63.

Fluence Energy Trading Down 5.6 %

Shares of NASDAQ FLNC opened at $18.35 on Wednesday. Fluence Energy has a twelve month low of $12.74 and a twelve month high of $27.80. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -47.05, a price-to-earnings-growth ratio of 3.15 and a beta of 2.51. The business has a 50 day simple moving average of $16.96 and a 200-day simple moving average of $17.69.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $16.81 per share, with a total value of $168,100.00. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. 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 purchasing an additional 23,927 shares during the period. Granite Bay Wealth Management LLC acquired a new stake in shares of Fluence Energy during the second quarter worth $209,000. Scientech Research LLC acquired a new stake in shares of Fluence Energy during the second quarter worth $438,000. Mackenzie Financial Corp acquired a new position in Fluence Energy during the second quarter valued at $613,000. Finally, The Manufacturers Life Insurance Company raised its position in Fluence Energy by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock valued at $617,000 after buying an additional 2,389 shares during the period. 53.16% of the stock is 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.