Bank of America Lowers Fluence Energy (NASDAQ:FLNC) Price Target to $24.00

Fluence Energy (NASDAQ:FLNC - Get Free Report) had its price target lowered by equities research analysts at Bank of America from $25.00 to $24.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target would suggest a potential upside of 19.05% from the stock's previous close.

Other equities research analysts have also issued reports about the stock. Guggenheim raised shares of Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 target price on the stock in a research note on Friday, August 9th. Barclays decreased their price target on shares of Fluence Energy from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, July 26th. Jefferies Financial Group assumed coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They issued a "buy" rating and a $26.00 price objective on the stock. Robert W. Baird lowered their price target on Fluence Energy from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Finally, Royal Bank of Canada raised Fluence Energy to a "moderate buy" rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.89.

Fluence Energy Stock Up 3.5 %

FLNC stock traded up $0.69 during midday trading on Thursday, hitting $20.16. The company's stock had a trading volume of 1,802,916 shares, compared to its average volume of 2,202,904. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $27.80. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of -102.47, a price-to-earnings-growth ratio of 0.78 and a beta of 2.54. The company has a 50 day moving average of $20.90 and a two-hundred day moving average of $19.39.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the acquisition, the director now directly owns 65,861 shares of the company's stock, valued at approximately $1,107,123.41. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently added to or reduced their stakes in the company. PARK CIRCLE Co acquired a new position in Fluence Energy during the second quarter worth approximately $28,000. US Bancorp DE boosted its position in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $38,000 after purchasing an additional 1,475 shares during the period. GAMMA Investing LLC grew its stake in 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 buying an additional 2,146 shares during the last quarter. Blue Trust Inc. bought a new stake in Fluence Energy in the 2nd quarter valued at $58,000. Finally, CWM LLC increased its position in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after acquiring an additional 1,767 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.