Fluence Energy (NASDAQ:FLNC) Shares Up 4.7%

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) rose 4.7% during mid-day trading on Wednesday . The company traded as high as $18.16 and last traded at $18.15. Approximately 252,628 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,352,918 shares. The stock had previously closed at $17.34.

Analysts Set New Price Targets

A number of research firms recently weighed in on FLNC. Truist Financial began coverage on shares of Fluence Energy in a research report on Wednesday, July 10th. They issued a "buy" rating and a $25.00 target price for the company. Robert W. Baird lowered their target price on Fluence Energy from $34.00 to $27.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Bank of America dropped their target price on Fluence Energy from $29.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Susquehanna decreased their price target on Fluence Energy from $24.00 to $23.00 and set a "positive" rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $26.63.

Fluence Energy Price Performance

The stock has a market cap of $3.32 billion, a P/E ratio of -48.18, a PEG ratio of 3.15 and a beta of 2.50. The stock has a 50-day simple moving average of $16.94 and a 200-day simple moving average of $17.68.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company's stock.

Institutional Trading of Fluence Energy

Institutional investors have recently modified their holdings of the business. Swiss National Bank lifted its holdings in Fluence Energy by 37.7% during the 4th quarter. Swiss National Bank now owns 123,900 shares of the company's stock worth $2,955,000 after buying an additional 33,900 shares during the period. Jupiter Asset Management Ltd. bought a new position in Fluence Energy during the first quarter worth $3,247,000. SG Americas Securities LLC bought a new position in shares of Fluence Energy during the 1st quarter worth about $4,082,000. Norges Bank bought a new stake in Fluence Energy in the 4th quarter valued at about $13,931,000. Finally, Quadrature Capital Ltd acquired a new stake in Fluence Energy in the fourth quarter valued at approximately $1,136,000. Institutional investors own 53.16% of the company's stock.

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.