Fluence Energy (NASDAQ:FLNC) Stock Price Down 8.1%

Fluence Energy, Inc. (NASDAQ:FLNC) fell 8.1% during mid-day trading on Wednesday . The company traded as low as $19.82 and last traded at $19.83. 349,274 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 2,285,747 shares. The stock had previously closed at $21.57.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective on the stock. Piper Sandler cut their price target on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Robert W. Baird decreased their price objective on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $24.00 in a report on Tuesday. Finally, Bank of America cut their target price on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.21.

Fluence Energy Stock Performance

The company has a 50 day moving average of $18.54 and a two-hundred day moving average of $18.49. The stock has a market capitalization of $3.83 billion, a PE ratio of -50.85, a P/E/G ratio of 7.24 and a beta of 2.51.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the purchase, the director now owns 65,861 shares in the company, valued at $1,107,123.41. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently modified their holdings of FLNC. PARK CIRCLE Co acquired a new position in shares of Fluence Energy in the 2nd quarter valued at $28,000. Pflug Koory LLC acquired a new stake in shares of Fluence Energy during the 1st quarter valued at about $35,000. Baillie Gifford & Co. purchased a new position in shares of Fluence Energy in the 1st quarter valued at about $38,000. Quarry LP purchased a new position in Fluence Energy during the fourth quarter worth approximately $38,000. Finally, GAMMA Investing LLC increased its position in shares of Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after buying an additional 2,146 shares in the last quarter. Hedge funds and other 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.