Canaccord Genuity Group Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its price objective decreased by research analysts at Canaccord Genuity Group from $37.00 to $34.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 80.75% from the company’s current price.

A number of other brokerages also recently issued reports on FLNC. Jefferies Financial Group began coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Truist Financial boosted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Piper Sandler boosted their price objective on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.85.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $18.81 on Friday. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.80. The company has a market capitalization 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. The company’s fifty day moving average price is $21.08 and its 200 day moving average price is $19.65.

Institutional Trading of Fluence Energy

Several large investors have recently bought and sold shares of the company. Nicola Wealth Management LTD. increased its position in Fluence Energy by 62.0% during the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock worth $1,840,000 after buying an additional 31,000 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of Fluence Energy by 124.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock valued at $1,340,000 after buying an additional 32,699 shares during the period. Credit Capital Investments LLC increased its stake in Fluence Energy by 391.7% during the third quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock worth $1,340,000 after acquiring an additional 47,000 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Fluence Energy during the 3rd quarter worth approximately $5,742,000. Finally, DRW Securities LLC acquired a new stake in shares of Fluence Energy in the third quarter worth $1,124,000. 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.