Fluence Energy (NASDAQ:FLNC) Given New $24.00 Price Target at Robert W. Baird

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

FLNC has been the subject of several other research reports. BMO Capital Markets increased their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Piper Sandler lifted their price objective on Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Bank of America reduced 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. Finally, Jefferies Financial Group began coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and an average target price of $26.47.

Fluence Energy Price Performance

NASDAQ:FLNC opened at $18.37 on Wednesday. The stock has a market cap of $3.32 billion, a P/E ratio of 138.31, a PEG ratio of 0.79 and a beta of 2.54. The company has a fifty day moving average price of $21.26 and a 200 day moving average price of $19.65. Fluence Energy has a one year low of $12.74 and a one year high of $27.80.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Nicola Wealth Management LTD. lifted its position in shares of 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 purchasing an additional 31,000 shares in the last quarter. Credit Capital Investments LLC raised its position in Fluence Energy by 391.7% in the 3rd quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock worth $1,340,000 after purchasing an additional 47,000 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in Fluence Energy by 124.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock worth $1,340,000 after buying an additional 32,699 shares in the last quarter. Principal Financial Group Inc. bought a new position in Fluence Energy in the 3rd quarter valued at $5,742,000. Finally, DRW Securities LLC acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at $1,124,000. 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.