Fluence Energy (NASDAQ:FLNC) Price Target Raised to $18.00 at Piper Sandler

Fluence Energy (NASDAQ:FLNC - Free Report) had its target price increased by Piper Sandler from $16.00 to $18.00 in a report issued on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on FLNC. Guggenheim raised shares of Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a research report on Friday, August 9th. BMO Capital Markets increased their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, July 16th. Citigroup lowered shares of Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Finally, Truist Financial increased their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.11.

Fluence Energy Price Performance

FLNC stock traded down $0.87 during trading hours on Tuesday, reaching $19.81. The stock had a trading volume of 1,626,368 shares, compared to its average volume of 2,226,744. The stock has a market capitalization of $3.55 billion, a PE ratio of -51.46, a price-to-earnings-growth ratio of 0.75 and a beta of 2.54. The stock has a 50-day simple moving average of $20.20 and a 200 day simple moving average of $19.01. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $27.80.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the purchase, the director now directly owns 65,861 shares of the company's stock, valued at approximately $1,107,123.41. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. bought a new stake in shares of Fluence Energy during the 1st quarter valued at approximately $3,247,000. SG Americas Securities LLC bought a new stake in shares of Fluence Energy during the 1st quarter valued at approximately $4,082,000. Vanguard Group Inc. grew its holdings in shares of Fluence Energy by 41.0% during the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company's stock valued at $131,685,000 after purchasing an additional 1,605,345 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company's stock valued at $26,025,000 after purchasing an additional 23,927 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new stake in shares of Fluence Energy during the 2nd quarter valued at approximately $3,916,000. 53.16% of the stock is owned by institutional investors.

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.