Fluence Energy, Inc. (NASDAQ:FLNC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned an average rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.85.

Several equities research analysts have recently weighed in on FLNC shares. Robert W. Baird reduced their price objective on Fluence Energy from $27.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Canaccord Genuity Group reduced their price objective on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday. BMO Capital Markets raised their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Jefferies Financial Group started coverage on Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Bank of America decreased their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB grew its position in Fluence Energy by 47.3% during the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after buying an additional 2,047,063 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in Fluence Energy during the second quarter worth about $26,877,000. Erste Asset Management GmbH acquired a new stake in Fluence Energy during the third quarter worth about $22,059,000. Point72 Asset Management L.P. acquired a new stake in Fluence Energy during the third quarter worth about $21,809,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Fluence Energy by 1,355.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock worth $17,758,000 after buying an additional 953,761 shares in the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $18.77 on Tuesday. The stock has a fifty day moving average price of $21.02 and a two-hundred day moving average price of $19.67. The firm has a market cap of $3.39 billion, a P/E ratio of 144.38, a PEG ratio of 0.64 and a beta of 2.54. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.80.

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.