Fluence Energy (NASDAQ:FLNC) Stock Price Up 6.1% - Still a Buy?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shot up 6.1% during mid-day trading on Monday . The stock traded as high as $22.65 and last traded at $22.57. 152,943 shares traded hands during trading, a decline of 93% from the average session volume of 2,185,476 shares. The stock had previously closed at $21.28.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLNC. Royal Bank of Canada raised Fluence Energy to a "moderate buy" rating in a research note on Friday, August 9th. Citigroup lowered Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. Scotiabank raised Fluence Energy to a "hold" rating in a research note on Friday, July 12th. Truist Financial lifted their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, Guggenheim upgraded Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.11.

Fluence Energy Trading Up 4.1 %

The business has a fifty day simple moving average of $20.74 and a two-hundred day simple moving average of $19.29. The stock has a market cap of $4.00 billion, a PE ratio of -114.89, a P/E/G ratio of 0.76 and a beta of 2.54.

Insiders Place Their Bets

In other news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the acquisition, the director now owns 65,861 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company's stock.

Institutional Trading of Fluence Energy

A number of hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its position in shares of Fluence Energy by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company's stock worth $144,800,000 after purchasing an additional 2,047,063 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Fluence Energy by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company's stock worth $107,130,000 after purchasing an additional 656,839 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Fluence Energy by 21.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company's stock worth $75,086,000 after purchasing an additional 757,105 shares in the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in shares of Fluence Energy in the 2nd quarter worth approximately $26,877,000. Finally, Clearbridge Investments LLC boosted its position in shares of Fluence Energy by 1.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company's stock worth $26,025,000 after purchasing an additional 23,927 shares in the last quarter. 53.16% of the stock is owned by institutional investors.

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.