Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $24.00 at Bank of America

Fluence Energy (NASDAQ:FLNC) had its price target reduced by research analysts at Bank of America from $25.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 16.11% from the stock’s current price.

Several other analysts also recently commented on FLNC. Susquehanna raised their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Robert W. Baird decreased their price objective on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Guggenheim upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Friday, August 9th. Piper Sandler raised their price objective on shares of Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial raised their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.63.

Fluence Energy Trading Up 2.6 %

Shares of Fluence Energy stock traded up $0.53 on Thursday, hitting $20.67. 1,750,969 shares of the company’s stock were exchanged, compared to its average volume of 1,506,660. The company has a 50-day simple moving average of $20.99 and a 200-day simple moving average of $19.43. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.80.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the purchase, the director now owns 65,861 shares of the company’s stock, valued at $1,107,123.41. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

Several large investors have recently made changes to their positions in the business. Jupiter Asset Management Ltd. purchased a new stake in Fluence Energy during the first quarter worth $3,247,000. SG Americas Securities LLC purchased a new stake in Fluence Energy during the first quarter worth $4,082,000. Vanguard Group Inc. boosted its holdings 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 in the last quarter. Clearbridge Investments LLC boosted its holdings in Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after buying an additional 23,927 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Fluence Energy during the second quarter worth $3,916,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.