Shares of Fluence Energy, Inc. (NASDAQ:FLNC – Get Rating) gapped down before the market opened on Thursday . The stock had previously closed at $16.13, but opened at $15.23. Fluence Energy shares last traded at $15.23, with a volume of 591 shares trading hands.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Royal Bank of Canada raised their target price on Fluence Energy from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, September 2nd. JPMorgan Chase & Co. decreased their target price on Fluence Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. The Goldman Sachs Group upped their target price on Fluence Energy from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Canaccord Genuity Group increased their price target on Fluence Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Finally, Canaccord Genuity Group increased their price target on Fluence Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.72.
Fluence Energy Trading Down 2.1 %
The stock has a market capitalization of $2.71 billion and a price-to-earnings ratio of -7.96. The stock has a 50-day simple moving average of $15.14 and a 200 day simple moving average of $13.19.
Insiders Place Their Bets
Institutional Investors Weigh In On Fluence Energy
Several institutional investors have recently made changes to their positions in FLNC. Sandia Investment Management LP acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $36,000. Point72 Hong Kong Ltd acquired a new stake in shares of Fluence Energy during the 2nd quarter valued at about $39,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $48,000. Legal & General Group Plc lifted its holdings in shares of Fluence Energy by 107.9% during the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company’s stock valued at $56,000 after buying an additional 3,083 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $57,000. 21.33% of the stock is currently owned by institutional investors and hedge funds.
About Fluence Energy
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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