Fluence Energy (NASDAQ:FLNC) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Fluence Energy (NASDAQ:FLNC) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $26.00 target price on the stock.

Several other brokerages have also weighed in on FLNC. Piper Sandler dropped their target price on Fluence Energy from $18.00 to $16.00 and set a neutral rating on the stock in a research report on Monday, July 22nd. Scotiabank raised Fluence Energy to a hold rating in a research report on Friday, July 12th. Guggenheim raised Fluence Energy from a neutral rating to a buy rating and set a $26.00 target price on the stock in a research report on Friday, August 9th. Royal Bank of Canada upgraded Fluence Energy to a moderate buy rating in a research note on Friday, August 9th. Finally, Bank of America decreased their price target on Fluence Energy from $29.00 to $28.00 and set a buy rating for the company in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $26.63.

Fluence Energy Trading Down 5.6 %

NASDAQ:FLNC opened at $18.35 on Wednesday. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -47.05, a PEG ratio of 3.15 and a beta of 2.51. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $27.80. The business’s fifty day moving average price is $16.96 and its 200 day moving average price is $17.69.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the transaction, the director now owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Fluence Energy

A number of hedge funds have recently modified their holdings of the company. ProShare Advisors LLC lifted its position in shares of Fluence Energy by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company’s stock worth $183,000 after acquiring an additional 830 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Fluence Energy by 3.8% in the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after buying an additional 897 shares in the last quarter. Renaissance Capital LLC raised its holdings 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 worth $663,000 after buying an additional 1,111 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Fluence Energy by 116.3% in the 4th quarter. National Bank of Canada FI now owns 2,595 shares of the company’s stock worth $62,000 after buying an additional 1,395 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $38,000. Institutional investors own 53.16% of the company’s stock.

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.