Fluence Energy, Inc. (NASDAQ:FLNC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $26.63.

Several brokerages have weighed in on FLNC. Robert W. Baird cut their price target on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Bank of America dropped their price target on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Scotiabank upgraded Fluence Energy to a “hold” rating in a research note on Friday, July 12th. Susquehanna reduced their price target on shares of Fluence Energy from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. Finally, Barclays reduced their price objective 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.

Insider Activity

In other news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $16.81 per share, with a total value of $168,100.00. Following the purchase, the director now owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Fluence Energy by 41.0% in the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after purchasing an additional 1,605,345 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in shares of Fluence Energy during the second quarter worth approximately $26,877,000. Clean Energy Transition LLP acquired a new stake in Fluence Energy during the 4th quarter valued at $32,124,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fluence Energy by 1,355.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after buying an additional 953,761 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Fluence Energy by 21.2% in 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 acquiring an additional 757,105 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Stock Up 1.5 %

NASDAQ FLNC opened at $21.88 on Thursday. The business has a fifty day moving average of $17.86 and a 200-day moving average of $18.16. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $27.80. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of -56.10, a price-to-earnings-growth ratio of 3.99 and a beta of 2.51.

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.