Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $27.00 at Royal Bank of Canada

Fluence Energy (NASDAQ:FLNC) had its price target trimmed by Royal Bank of Canada from $28.00 to $27.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

FLNC has been the topic of a number of other reports. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Friday, November 8th. Truist Financial raised their price target on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets boosted their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. 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 report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.47.

Fluence Energy Stock Down 3.3 %

Fluence Energy stock opened at $18.37 on Wednesday. The company’s 50-day moving average price is $21.26 and its 200-day moving average price is $19.65. The company has a market cap of $3.32 billion, a PE ratio of 138.31, a price-to-earnings-growth ratio of 0.79 and a beta of 2.54. Fluence Energy has a twelve month low of $12.74 and a twelve month high of $27.80.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in Fluence Energy by 11.8% during the 3rd quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock worth $3,644,000 after acquiring an additional 17,551 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after purchasing an additional 60,633 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in shares of Fluence Energy by 76.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock valued at $585,000 after purchasing an additional 11,138 shares in the last quarter. Barclays PLC increased its holdings in Fluence Energy by 296.8% during the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after buying an additional 135,957 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in Fluence Energy in the third quarter worth approximately $1,234,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.