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

Fluence Energy (NASDAQ:FLNC) had its target price dropped by analysts at Robert W. Baird from $27.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 26.32% from the company’s current price.

A number of other equities research analysts have also issued reports on FLNC. Piper Sandler upped their target price on shares of Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research note on Friday, November 8th. BMO Capital Markets raised their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Jefferies Financial Group started coverage on Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Finally, Truist Financial increased their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and a consensus price target of $26.47.

Fluence Energy Price Performance

NASDAQ FLNC opened at $19.00 on Wednesday. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $27.80. The company has a market cap of $3.43 billion, a PE ratio of 146.15, a price-to-earnings-growth ratio of 0.79 and a beta of 2.54. The stock’s 50 day simple moving average is $21.32 and its 200-day simple moving average is $19.64.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Fluence Energy by 11.9% during the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after buying an additional 656,839 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Fluence Energy by 10.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,689 shares of the company’s stock valued at $394,000 after acquiring an additional 2,081 shares during the period. Comerica Bank increased its holdings in shares of Fluence Energy by 79.1% in the 1st quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $73,000 after acquiring an additional 1,860 shares during the period. GAMMA Investing LLC raised its position in Fluence Energy by 264.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after purchasing an additional 2,146 shares during the last quarter. Finally, Renaissance Capital LLC boosted its stake in Fluence Energy by 42.0% during the 2nd quarter. Renaissance Capital LLC now owns 54,288 shares of the company’s stock worth $941,000 after purchasing an additional 16,045 shares during the period. 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.