Analysts Set Fluence Energy, Inc. (NASDAQ:FLNC) Price Target at $26.63

Fluence Energy, Inc. (NASDAQ:FLNC) has been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, MarketBeat reports. 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. The average twelve-month price objective among brokerages that have covered the stock in the last year is $26.63.

A number of research firms have recently issued reports on FLNC. Barclays dropped their price target on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their target price on Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Guggenheim raised shares of 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. Piper Sandler dropped their price objective on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Scotiabank raised shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th.

Fluence Energy Stock Down 3.3 %

FLNC opened at $21.62 on Thursday. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -55.44, a PEG ratio of 7.24 and a beta of 2.51. The firm has a 50 day moving average price of $18.05 and a 200-day moving average price of $18.24. Fluence Energy has a twelve month low of $12.74 and a twelve month high of $27.80.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of Fluence Energy during the 4th quarter valued at approximately $38,000. PARK CIRCLE Co purchased a new position in Fluence Energy during the 2nd quarter valued at $28,000. Pflug Koory LLC purchased a new stake in Fluence Energy in the first quarter worth $35,000. Baillie Gifford & Co. bought a new stake in shares of Fluence Energy during the first quarter worth $38,000. Finally, Quest Partners LLC purchased a new stake in shares of Fluence Energy during the fourth quarter valued at $60,000. 53.16% of the stock is currently owned by hedge funds and other 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.