Fluence Energy, Inc. (NASDAQ:FLNC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-one research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $26.85.

Several brokerages recently commented on FLNC. Canaccord Genuity Group reduced their target price on shares of Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a report on Friday. Bank of America reduced their target price on shares of Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Royal Bank of Canada reduced their target price on shares of Fluence Energy from $28.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, November 27th. BNP Paribas raised shares of Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price objective for the company in a report on Friday, November 8th. Finally, Robert W. Baird cut their price objective on shares of Fluence Energy from $27.00 to $24.00 and set an "outperform" rating for the company in a report on Wednesday, November 27th.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in shares of Fluence Energy by 11.8% in the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company's stock valued at $3,644,000 after purchasing an additional 17,551 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Fluence Energy by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company's stock valued at $34,253,000 after purchasing an additional 60,633 shares during the last quarter. Duff & Phelps Investment Management Co. raised its holdings in shares of Fluence Energy by 76.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company's stock valued at $585,000 after purchasing an additional 11,138 shares during the last quarter. Barclays PLC raised its holdings in shares of Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company's stock valued at $4,127,000 after purchasing an additional 135,957 shares during the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in Fluence Energy during the third quarter worth about $1,234,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Price Performance

FLNC stock traded down $0.44 during midday trading on Tuesday, hitting $18.33. The company's stock had a trading volume of 1,943,929 shares, compared to its average volume of 2,238,580. Fluence Energy has a twelve month low of $12.74 and a twelve month high of $27.80. The company's fifty day moving average price is $21.02 and its 200 day moving average price is $19.67. The stock has a market capitalization of $3.31 billion, a P/E ratio of 144.38, a PEG ratio of 0.62 and a beta of 2.39.

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.