Fluence Energy (NASDAQ:FLNC) Given New $27.00 Price Target at Royal Bank of Canada

Fluence Energy (NASDAQ:FLNC) had its price target dropped by investment analysts at Royal Bank of Canada from $28.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 46.98% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. 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 report on Friday, November 8th. Truist Financial increased their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, August 9th. Robert W. Baird decreased their price objective on Fluence Energy from $27.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Bank of America cut their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.47.

Fluence Energy Stock Performance

Shares of FLNC opened at $18.37 on Wednesday. The firm has a market capitalization of $3.32 billion, a PE ratio of 141.31, a P/E/G ratio of 0.79 and a beta of 2.54. The stock has a 50 day simple moving average of $21.20 and a 200 day simple moving average of $19.64. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $27.80.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of FLNC. Franklin Resources Inc. boosted its stake in shares of Fluence Energy by 11.8% during the 3rd quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock worth $3,644,000 after acquiring an additional 17,551 shares during the period. Geode Capital Management LLC boosted its position in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after purchasing an additional 60,633 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in shares of Fluence Energy by 76.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock valued at $585,000 after purchasing an additional 11,138 shares during the last quarter. Barclays PLC raised its position in shares of Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after purchasing an additional 135,957 shares during the period. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of Fluence Energy during the 3rd quarter worth about $1,234,000. Institutional investors 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.