Robert W. Baird Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $24.00

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

Several other analysts also recently weighed in on FLNC. Piper Sandler boosted their price objective on Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Friday, November 8th. Truist Financial upped their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. 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 note on Friday, August 9th. Finally, 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 research report on Thursday, November 7th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $26.85.

Fluence Energy Trading Up 2.4 %

FLNC opened at $18.81 on Wednesday. The company has a market cap of $3.40 billion, a P/E ratio of 144.69, a P/E/G ratio of 0.62 and a beta of 2.54. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $27.80. The business’s 50-day moving average price is $21.08 and its 200-day moving average price is $19.65.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLNC. Franklin Resources Inc. grew its holdings in Fluence Energy by 11.8% in the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock worth $3,644,000 after purchasing an additional 17,551 shares during the period. Geode Capital Management LLC grew its stake 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 buying an additional 60,633 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in Fluence Energy by 76.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock valued at $585,000 after buying an additional 11,138 shares in the last quarter. Barclays PLC raised its stake in Fluence Energy by 296.8% during the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after buying an additional 135,957 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in Fluence Energy in the third quarter worth $1,234,000. 53.16% of the stock is currently owned by institutional investors.

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.