Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $27.00 at Robert W. Baird

Fluence Energy (NASDAQ:FLNC) had its price target reduced by Robert W. Baird from $34.00 to $27.00 in a research report report published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

FLNC has been the subject of a number of other reports. Barclays dropped their price target on shares of Fluence Energy from $30.00 to $28.00 and set an overweight rating for the company in a research report on Friday, July 26th. Piper Sandler cut their target price on Fluence Energy from $18.00 to $16.00 and set a neutral rating for the company in a research report on Monday, July 22nd. Bank of America decreased their price target on Fluence Energy from $29.00 to $28.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Evercore ISI reduced their price objective on shares of Fluence Energy from $59.00 to $47.00 and set an outperform rating on the stock in a research note on Monday, May 13th. Finally, Guggenheim upgraded shares of Fluence Energy from a neutral rating to a buy rating and set a $26.00 target price for the company in a research report on Friday. One investment 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 data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $26.67.

Fluence Energy Stock Performance

NASDAQ:FLNC opened at $15.77 on Friday. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $28.14. The firm’s 50-day simple moving average is $17.98 and its 200 day simple moving average is $17.95. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -40.44 and a beta of 2.50.

Institutional Trading of Fluence Energy

A number of hedge funds have recently made changes to their positions in FLNC. Vanguard Group Inc. raised its holdings in Fluence Energy by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after buying an additional 656,839 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Fluence Energy by 21.2% during the first 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 during the period. Handelsbanken Fonder AB grew its stake in shares of Fluence Energy by 145.5% in the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after purchasing an additional 1,706,808 shares during the last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in Fluence Energy in the second quarter valued at $26,877,000. Finally, Clearbridge Investments LLC raised its position in Fluence Energy by 3.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,476,914 shares of the company’s stock worth $25,610,000 after purchasing an additional 52,744 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

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.