Fluence Energy (NASDAQ:FLNC) Trading Up 3.9% – What’s Next?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) rose 3.9% during mid-day trading on Wednesday . The stock traded as high as $21.54 and last traded at $21.48. Approximately 222,260 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,272,478 shares. The stock had previously closed at $20.68.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial assumed coverage on Fluence Energy in a research note on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price objective for the company. Scotiabank upgraded shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th. Bank of America dropped 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 note on Wednesday, July 17th. Royal Bank of Canada upgraded shares of Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. Finally, Susquehanna dropped their price objective on Fluence Energy from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.21.

Fluence Energy Stock Performance

The stock has a market capitalization of $3.81 billion, a PE ratio of -53.03, a price-to-earnings-growth ratio of 7.24 and a beta of 2.54. The business’s 50-day moving average price is $19.10 and its 200 day moving average price is $18.71.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the acquisition, the director now owns 65,861 shares of the company’s stock, valued at $1,107,123.41. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of Fluence Energy in the 4th quarter worth approximately $1,136,000. Quarry LP purchased a new stake in Fluence Energy during the fourth quarter valued at about $38,000. Clarity Capital Partners LLC bought a new position in shares of Fluence Energy during the fourth quarter valued at about $1,148,000. Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 41.0% in the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after buying an additional 1,605,345 shares during the period. Finally, Renaissance Capital LLC lifted its stake in shares of Fluence Energy by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 38,243 shares of the company’s stock valued at $663,000 after acquiring an additional 1,111 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

About Fluence Energy

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.