Fluence Energy (NASDAQ:FLNC) Given New $18.00 Price Target at Piper Sandler

Fluence Energy (NASDAQ:FLNC) had its target price lifted by analysts at Piper Sandler from $16.00 to $18.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential downside of 10.31% from the company’s previous close.

A number of other equities analysts have also weighed in on FLNC. Royal Bank of Canada upgraded shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Friday, August 9th. Citigroup lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Susquehanna raised their price target on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group initiated coverage on Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.11.

Fluence Energy Price Performance

Shares of NASDAQ FLNC traded down $0.61 during trading on Tuesday, reaching $20.07. 168,095 shares of the stock traded hands, compared to its average volume of 2,219,608. The stock has a market capitalization of $3.60 billion, a P/E ratio of -51.46, a price-to-earnings-growth ratio of 0.75 and a beta of 2.54. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $27.80. The company has a 50-day moving average of $20.20 and a 200-day moving average of $19.01.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought 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. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Jupiter Asset Management Ltd. bought a new stake in Fluence Energy during the 1st quarter valued at $3,247,000. SG Americas Securities LLC purchased a new stake in shares of Fluence Energy during the first quarter worth about $4,082,000. Vanguard Group Inc. grew its stake in shares of 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 during the last quarter. Clearbridge Investments LLC increased its holdings in Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after purchasing an additional 23,927 shares during the period. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Fluence Energy in the 2nd quarter worth approximately $3,916,000. 53.16% of the stock is 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.