Canaccord Genuity Group Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC - Free Report) had its price target lowered by Canaccord Genuity Group from $37.00 to $34.00 in a research report sent to investors on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the company. Bank of America reduced their price target on Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Fluence Energy in a research report on Wednesday, September 4th. They issued a "buy" rating and a $26.00 price target for the company. Citigroup lowered Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. Royal Bank of Canada dropped their price objective on Fluence Energy from $28.00 to $27.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Piper Sandler upped their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.85.

Fluence Energy Stock Up 2.4 %

NASDAQ FLNC traded up $0.44 on Friday, reaching $18.81. The company had a trading volume of 1,801,890 shares, compared to its average volume of 2,242,326. The stock has a market capitalization of $3.40 billion, a P/E ratio of 144.69, a P/E/G ratio of 0.62 and a beta of 2.54. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $27.80. The company's fifty day moving average is $21.08 and its 200 day moving average is $19.65.

Institutional Trading of Fluence Energy

A number of institutional investors have recently bought and sold shares of FLNC. PARK CIRCLE Co purchased a new position in shares of Fluence Energy during the second quarter valued at $28,000. US Bancorp DE grew its stake in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $38,000 after purchasing an additional 1,475 shares during the last quarter. GAMMA Investing LLC grew its stake in Fluence Energy by 264.9% in the second 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 during the last quarter. Blue Trust Inc. purchased a new position in Fluence Energy in the second quarter valued at about $58,000. Finally, CWM LLC grew its stake in Fluence Energy by 164.4% in the third 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 last quarter. 53.16% of the stock is currently owned by institutional investors.

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.