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

Fluence Energy (NASDAQ:FLNC) had its price target upped by Truist Financial from $25.00 to $28.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Citigroup lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Barclays cut their target price on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Royal Bank of Canada raised Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Finally, Susquehanna increased their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.53.

Fluence Energy Trading Up 5.2 %

NASDAQ:FLNC opened at $22.41 on Wednesday. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of -57.46, a PEG ratio of 0.75 and a beta of 2.54. The business’s 50-day moving average price is $19.90 and its two-hundred day moving average price is $18.90. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $27.80.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the acquisition, the director now owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Capital LLC raised its position in Fluence Energy by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 65,169 shares of the company’s stock worth $1,480,000 after purchasing an additional 10,881 shares during the last quarter. CWM LLC increased its position 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 holdings in Fluence Energy by 47.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after purchasing an additional 2,047,063 shares during the last quarter. Clearbridge Investments LLC grew its stake in 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. Finally, Granite Bay Wealth Management LLC bought a new stake in Fluence Energy in the second quarter worth approximately $209,000. 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.