Fluence Energy (NASDAQ:FLNC) Stock Price Up 7.7% – Still a Buy?

Fluence Energy, Inc. (NASDAQ:FLNC) shares shot up 7.7% during mid-day trading on Thursday . The company traded as high as $21.45 and last traded at $21.32. 345,202 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 2,215,256 shares. The stock had previously closed at $19.80.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Scotiabank upgraded shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. Truist Financial increased their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler upped their price target on Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.11.

Fluence Energy Price Performance

The firm’s 50 day moving average price is $20.32 and its two-hundred day moving average price is $19.04. The stock has a market cap of $3.72 billion, a PE ratio of -54.36, a P/E/G ratio of 0.75 and a beta of 2.54.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, with a total value of $168,100.00. Following the acquisition, the director now directly owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is owned by company insiders.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB grew its stake in Fluence Energy by 47.3% in 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 in the last quarter. Vanguard Group Inc. grew its position in 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 acquiring an additional 1,605,345 shares in the last quarter. Lazard Freres Gestion S.A.S. bought a new position in Fluence Energy in the second quarter valued at $26,877,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Fluence Energy by 1,355.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after purchasing an additional 953,761 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Fluence Energy by 21.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock worth $75,086,000 after purchasing an additional 757,105 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.