Fluence Energy (NASDAQ:FLNC) Shares Gap Up to $21.44

Fluence Energy, Inc. (NASDAQ:FLNC – Get Rating) shares gapped up prior to trading on Wednesday . The stock had previously closed at $21.44, but opened at $22.37. Fluence Energy shares last traded at $22.50, with a volume of 2,307 shares traded.

Analysts Set New Price Targets

Several research analysts have weighed in on FLNC shares. JPMorgan Chase & Co. decreased their price target on shares of Fluence Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Morgan Stanley increased their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 10th. The Goldman Sachs Group increased their price target on shares of Fluence Energy from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, December 15th. Canaccord Genuity Group increased their price target on shares of Fluence Energy from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, December 14th. Finally, Robert W. Baird increased their price objective on shares of Fluence Energy from $22.00 to $27.00 in a research note on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Fluence Energy Stock Down 2.9 %

The company has a market capitalization of $3.65 billion, a PE ratio of -13.48 and a beta of 2.37. The company’s 50 day moving average is $17.72 and its two-hundred day moving average is $15.85.

Hedge Funds Weigh In On Fluence Energy

Institutional investors have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. purchased a new position in Fluence Energy during the fourth quarter valued at $43,000. Sandia Investment Management LP purchased a new position in Fluence Energy during the third quarter valued at $36,000. DekaBank Deutsche Girozentrale purchased a new position in Fluence Energy during the third quarter valued at $48,000. Exchange Traded Concepts LLC purchased a new position in Fluence Energy during the third quarter valued at $57,000. Finally, Point72 Hong Kong Ltd purchased a new position in Fluence Energy during the second quarter valued at $39,000. 19.60% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

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Fluence Energy, Inc, through its subsidiaries, offers energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.