Fluence Energy (NASDAQ:FLNC) Trading Up 7.7% – Should You Buy?

Fluence Energy, Inc. (NASDAQ:FLNC) shot up 7.7% on Thursday . The company traded as high as $21.45 and last traded at $21.32. 345,202 shares were traded during trading, a decline of 84% from the average session volume of 2,215,256 shares. The stock had previously closed at $19.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FLNC shares. Citigroup lowered Fluence Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $32.00 to $24.00 in a report on Tuesday, October 1st. BMO Capital Markets increased 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. JPMorgan Chase & Co. lifted their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Royal Bank of Canada upgraded shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Finally, Scotiabank upgraded Fluence Energy to a “hold” rating in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy currently has an average rating of “Moderate Buy” and a consensus target price of $27.11.

Fluence Energy Price Performance

The firm has a 50-day simple moving average of $20.32 and a 200 day simple moving average of $19.04. The stock has a market capitalization of $3.72 billion, a P/E ratio of -54.36, a P/E/G ratio of 0.75 and a beta of 2.54.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $16.81 per share, with a total value of $168,100.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Fluence Energy by 41.0% during the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock valued at $131,685,000 after purchasing an additional 1,605,345 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Fluence Energy during the first quarter worth $132,000. Commonwealth Equity Services LLC grew its holdings in Fluence Energy by 161.0% in the first quarter. Commonwealth Equity Services LLC now owns 42,675 shares of the company’s stock worth $740,000 after purchasing an additional 26,325 shares during the period. Baillie Gifford & Co. bought a new stake in Fluence Energy in the first quarter valued at $38,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Fluence Energy by 24.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,415 shares of the company’s stock valued at $2,113,000 after purchasing an additional 26,238 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.