Fluence Energy (NASDAQ:FLNC) Price Target Cut to $24.00 by Analysts at Robert W. Baird

Fluence Energy (NASDAQ:FLNC) had its price objective cut by Robert W. Baird from $27.00 to $24.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently weighed in on FLNC. Susquehanna upped their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Truist Financial raised their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Finally, Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy currently has an average rating of “Moderate Buy” and a consensus target price of $26.85.

Fluence Energy Stock Performance

Fluence Energy stock opened at $18.81 on Wednesday. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $27.80. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 144.69, a P/E/G ratio of 0.62 and a beta of 2.54. The company has a 50 day moving average price of $21.08 and a 200 day moving average price of $19.65.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its position in shares of Fluence Energy by 47.3% during the 3rd 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 during the period. Vanguard Group Inc. grew its holdings in Fluence Energy by 11.9% during the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after acquiring an additional 656,839 shares during the period. FMR LLC raised its position in shares of Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares during the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in shares of Fluence Energy in the 2nd quarter valued at $26,877,000. Finally, Geode Capital Management LLC boosted its position in shares of Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after purchasing an additional 60,633 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

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.