Fluence Energy (NASDAQ:FLNC) Price Target Lowered to $34.00 at Canaccord Genuity Group

Fluence Energy (NASDAQ:FLNC) had its target price reduced by Canaccord Genuity Group from $37.00 to $34.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group began coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. BMO Capital Markets increased their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Susquehanna boosted their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Truist Financial raised their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Piper Sandler boosted their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.85.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $18.81 on Friday. The business has a fifty day moving average of $21.08 and a 200-day moving average of $19.65. Fluence Energy has a twelve month low of $12.74 and a twelve month high of $27.80. The firm has a market cap of $3.40 billion, a PE ratio of 144.69, a price-to-earnings-growth ratio of 0.62 and a beta of 2.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. PARK CIRCLE Co acquired a new position in shares of Fluence Energy in the second quarter valued at approximately $28,000. US Bancorp DE boosted its stake in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the period. CWM LLC grew its holdings in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. GAMMA Investing LLC increased its position in Fluence Energy by 264.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after buying an additional 2,146 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of Fluence Energy during the third quarter worth $74,000. Institutional investors and hedge funds 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.