Fluence Energy (NASDAQ:FLNC – Get Rating) had its price target dropped by research analysts at JPMorgan Chase & Co. from $35.00 to $32.00 in a report released on Tuesday, The Fly reports. JPMorgan Chase & Co.‘s target price points to a potential upside of 217.15% from the stock’s current price.
Other analysts also recently issued reports about the company. Guggenheim began coverage on Fluence Energy in a research note on Tuesday, March 22nd. They issued a “neutral” rating for the company. Citigroup dropped their price objective on Fluence Energy from $47.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, February 15th. Bank of America cut Fluence Energy from a “neutral” rating to an “underperform” rating and set a $14.00 price objective for the company. in a report on Friday, February 11th. Zacks Investment Research raised Fluence Energy from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Finally, HSBC began coverage on Fluence Energy in a report on Wednesday, February 16th. They issued a “buy” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Fluence Energy currently has an average rating of “Buy” and an average target price of $38.38.
Shares of NASDAQ FLNC opened at $10.09 on Tuesday. Fluence Energy has a 12 month low of $9.65 and a 12 month high of $39.40. The business’s 50 day simple moving average is $12.41.
In related news, Director Julian Nebreda purchased 8,000 shares of Fluence Energy stock in a transaction on Tuesday, February 15th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $104,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Manuel Perez Dubuc purchased 10,000 shares of Fluence Energy stock in a transaction on Tuesday, February 15th. The stock was bought at an average price of $12.90 per share, for a total transaction of $129,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 29,438 shares of company stock valued at $384,736. Insiders own 0.01% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $3,581,000. Zweig DiMenna Associates LLC bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $907,000. Strs Ohio bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $9,601,000. AJ Wealth Strategies LLC bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $237,000. Finally, Nicola Wealth Management LTD. bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $1,956,000. Hedge funds and other institutional investors own 82.94% of the company’s stock.
About Fluence Energy (Get Rating)
Fluence Energy, Inc provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions.
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