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

Fluence Energy (NASDAQ:FLNC) had its price objective upped by Piper Sandler from $16.00 to $18.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

FLNC has been the subject of a number of other research reports. Guggenheim raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, August 9th. Bank of America decreased their price objective on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Barclays cut their price objective on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Scotiabank raised shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th. Finally, Susquehanna increased their price target on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.11.

Fluence Energy Price Performance

Shares of FLNC stock opened at $20.74 on Tuesday. The business has a fifty day moving average of $20.39 and a 200 day moving average of $19.05. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.80. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -53.18, a price-to-earnings-growth ratio of 0.75 and a beta of 2.54.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $16.81 per share, with a total value of $168,100.00. Following the completion of the acquisition, the director now directly owns 65,861 shares in the company, valued at approximately $1,107,123.41. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its holdings in shares of Fluence Energy by 47.3% during the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after acquiring an additional 2,047,063 shares during the last quarter. Vanguard Group Inc. raised its stake 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 purchasing an additional 656,839 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Fluence Energy by 21.2% during the 1st 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 last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in Fluence Energy during the 2nd quarter worth $26,877,000. Finally, Clearbridge Investments LLC grew its holdings in shares of Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after buying an additional 23,927 shares in the last quarter. 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.