Brokerages Set Fluence Energy, Inc. (NASDAQ:FLNC) PT at $26.67

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) has earned an average rating of "Moderate Buy" from the eighteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.67.

FLNC has been the topic of several recent research reports. Morgan Stanley decreased their price objective on shares of Fluence Energy from $32.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. increased their price target 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. Bank of America cut their price objective on Fluence Energy from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Susquehanna reduced their target price on Fluence Energy from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Friday, August 9th. Finally, Guggenheim raised Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 price target for the company in a research report on Friday, August 9th.

Fluence Energy Stock Performance

FLNC stock traded up $1.80 during midday trading on Friday, hitting $19.58. 1,801,428 shares of the stock were exchanged, compared to its average volume of 2,396,860. The stock's 50-day moving average price is $17.12 and its 200-day moving average price is $17.81. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -50.21 and a beta of 2.50. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $28.14.

Insider Buying and Selling

In other news, Director Herman E. Bulls purchased 10,000 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was bought 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. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC lifted its position in Fluence Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company's stock worth $183,000 after acquiring an additional 830 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Fluence Energy by 3.8% in the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company's stock valued at $420,000 after purchasing an additional 897 shares during the period. Renaissance Capital LLC grew its holdings in Fluence Energy by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 38,243 shares of the company's stock valued at $663,000 after purchasing an additional 1,111 shares in the last quarter. National Bank of Canada FI increased its stake in Fluence Energy by 116.3% during the 4th quarter. National Bank of Canada FI now owns 2,595 shares of the company's stock worth $62,000 after buying an additional 1,395 shares during the period. Finally, Quarry LP acquired a new position in Fluence Energy in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

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.