Piper Sandler Forecasts Strong Price Appreciation for Fluence Energy (NASDAQ:FLNC) Stock

Fluence Energy (NASDAQ:FLNC) had its price target raised by Piper Sandler from $18.00 to $20.00 in a research report sent to investors on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other analysts have also weighed in on the company. Susquehanna upped their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. 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. Jefferies Financial Group began coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research report on Friday, November 8th. Finally, Bank of America reduced their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.47.

Fluence Energy Price Performance

FLNC opened at $18.37 on Wednesday. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $27.80. The stock has a market cap of $3.32 billion, a P/E ratio of 138.31, a P/E/G ratio of 0.79 and a beta of 2.54. The stock’s 50 day simple moving average is $21.26 and its 200 day simple moving average is $19.65.

Hedge Funds Weigh In On Fluence Energy

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