Fluence Energy (NASDAQ:FLNC) Trading 6.1% Higher – Time to Buy?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) were up 6.1% during trading on Monday . The stock traded as high as $22.65 and last traded at $22.57. Approximately 152,943 shares changed hands during trading, a decline of 93% from the average daily volume of 2,185,476 shares. The stock had previously closed at $21.28.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FLNC shares. Bank of America cut their price objective on Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Truist Financial increased their price objective on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets increased their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Piper Sandler increased their price objective on Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.11.

Fluence Energy Stock Up 1.2 %

The stock has a market cap of $4.05 billion, a P/E ratio of -117.99, a price-to-earnings-growth ratio of 0.75 and a beta of 2.54. The firm’s 50-day moving average is $20.88 and its two-hundred day moving average is $19.39.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the transaction, the director now owns 65,861 shares in the company, valued at $1,107,123.41. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of FLNC. Jupiter Asset Management Ltd. bought a new position in Fluence Energy in the 1st quarter worth $3,247,000. SG Americas Securities LLC acquired a new position in shares of Fluence Energy during the 1st quarter worth about $4,082,000. Vanguard Group Inc. boosted its stake in Fluence Energy by 11.9% during 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 period. Clearbridge Investments LLC grew its holdings in Fluence Energy by 1.6% in 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 during the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new position in Fluence Energy in the 2nd quarter worth approximately $3,916,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.