Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

A number of equities analysts have recently commented on FLNC shares. Robert W. Baird cut their price objective on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. Jefferies Financial Group started coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. Guggenheim upgraded 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. Finally, Piper Sandler cut their target price on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd.

Fluence Energy Stock Down 3.3 %

Shares of NASDAQ FLNC opened at $21.62 on Thursday. The company has a market cap of $3.88 billion, a P/E ratio of -55.44, a P/E/G ratio of 7.24 and a beta of 2.51. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $27.80. The business has a 50-day simple moving average of $18.05 and a two-hundred day simple moving average of $18.24.

Insiders Place Their Bets

In related news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the transaction, the director now directly owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clearbridge Investments LLC increased its position 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 buying an additional 23,927 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Fluence Energy during the second quarter valued at $209,000. Scientech Research LLC purchased a new position in shares of Fluence Energy in the 2nd quarter worth about $438,000. Mackenzie Financial Corp bought a new position in Fluence Energy in the 2nd quarter worth about $613,000. Finally, The Manufacturers Life Insurance Company grew its position in Fluence Energy by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock valued at $617,000 after purchasing an additional 2,389 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

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.