Fluence Energy (NASDAQ:FLNC) Price Target Cut to $24.00 by Analysts at Robert W. Baird

Fluence Energy (NASDAQ:FLNC) had its target price trimmed by Robert W. Baird from $27.00 to $24.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also weighed in on FLNC. Bank of America reduced their price objective on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $32.00 to $24.00 in a report on Tuesday, October 1st. BMO Capital Markets upped their price target on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Piper Sandler raised their price objective on Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Guggenheim raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Fluence Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.47.

Fluence Energy Stock Down 3.3 %

Shares of Fluence Energy stock opened at $18.37 on Wednesday. The business has a fifty day simple moving average of $21.26 and a 200-day simple moving average of $19.65. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $27.80. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 138.31, a price-to-earnings-growth ratio of 0.79 and a beta of 2.54.

Institutional Trading of Fluence Energy

A number of institutional investors have recently bought and sold shares of FLNC. PARK CIRCLE Co bought a new position in shares of Fluence Energy during the 2nd quarter valued at $28,000. US Bancorp DE raised its holdings in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the period. GAMMA Investing LLC lifted its position in Fluence Energy by 264.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after acquiring an additional 2,146 shares during the last quarter. Blue Trust Inc. bought a new stake in Fluence Energy during the second quarter valued at about $58,000. Finally, CWM LLC grew its position in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.