Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) Price Target at $26.89

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) has earned an average rating of "Moderate Buy" from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $26.63.

Several research firms recently issued reports on FLNC. BNP Paribas raised shares of Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price target for the company in a report on Friday. Piper Sandler increased their target price on shares of Fluence Energy from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, July 16th. BMO Capital Markets increased their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Monday, October 14th. Finally, Robert W. Baird dropped their target price on shares of Fluence Energy from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Friday, August 9th.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 10,000 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $16.81 per share, with a total value of $168,100.00. Following the acquisition, the director now directly owns 65,861 shares in the company, valued at approximately $1,107,123.41. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new position in Fluence Energy during the 1st quarter valued at about $132,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Fluence Energy by 24.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,415 shares of the company's stock valued at $2,113,000 after purchasing an additional 26,238 shares during the period. SG Americas Securities LLC acquired a new position in Fluence Energy during the 1st quarter valued at about $4,082,000. Avantax Advisory Services Inc. boosted its stake in Fluence Energy by 62.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 20,515 shares of the company's stock valued at $356,000 after purchasing an additional 7,890 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Fluence Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company's stock valued at $183,000 after purchasing an additional 830 shares during the period. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

NASDAQ FLNC traded up $0.53 during trading hours on Friday, hitting $20.67. The company had a trading volume of 1,750,756 shares, compared to its average volume of 2,203,516. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $27.80. The company has a market cap of $3.73 billion, a PE ratio of -108.79, a price-to-earnings-growth ratio of 0.78 and a beta of 2.54. The business has a 50 day moving average of $20.99 and a 200-day moving average of $19.43.

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.