Fluence Energy (NASDAQ:FLNC) Price Target Cut to $27.00 by Analysts at Royal Bank of Canada

Fluence Energy (NASDAQ:FLNC) had its price objective lowered by Royal Bank of Canada from $28.00 to $27.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on FLNC. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Truist Financial upped their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America lowered their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BMO Capital Markets upped their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Susquehanna lifted their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.47.

Fluence Energy Stock Down 3.3 %

Shares of Fluence Energy stock opened at $18.37 on Wednesday. The company 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 firm’s 50 day moving average price is $21.26 and its 200-day moving average price is $19.65. Fluence Energy has a 52-week low of $12.74 and a 52-week high of $27.80.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. PARK CIRCLE Co acquired a new stake in shares of Fluence Energy during the 2nd quarter worth approximately $28,000. US Bancorp DE boosted its holdings in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares in the last quarter. CWM LLC grew its position in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the period. GAMMA Investing LLC increased its holdings in 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. Finally, Point72 DIFC Ltd acquired a new position in shares of Fluence Energy in the third quarter worth about $74,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.