Fluence Energy (NASDAQ:FLNC) Trading Up 4.7%

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

Analyst Ratings Changes

Several research firms recently commented on FLNC. Barclays cut their target price on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Friday, August 9th. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Evercore ISI cut their target price on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Price Performance

The firm has a 50 day moving average price of $16.94 and a 200-day moving average price of $17.68. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of -49.85, a price-to-earnings-growth ratio of 3.15 and a beta of 2.50.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the transaction, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently bought and sold shares of the business. Swiss National Bank lifted its stake in shares of Fluence Energy by 37.7% in the 4th quarter. Swiss National Bank now owns 123,900 shares of the company’s stock valued at $2,955,000 after purchasing an additional 33,900 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Fluence Energy during the 1st quarter worth about $3,247,000. SG Americas Securities LLC bought a new stake in shares of Fluence Energy in the 1st quarter valued at about $4,082,000. Norges Bank acquired a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $13,931,000. Finally, Quadrature Capital Ltd bought a new position in Fluence Energy during the 4th quarter worth approximately $1,136,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.