Fluence Energy (NASDAQ:FLNC) Shares Down 2.2% After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price fell 2.2% during trading on Wednesday after Robert W. Baird lowered their price target on the stock from $27.00 to $24.00. Robert W. Baird currently has an outperform rating on the stock. Fluence Energy traded as low as $18.50 and last traded at $18.58. 508,635 shares were traded during trading, a decline of 77% from the average session volume of 2,216,312 shares. The stock had previously closed at $19.00.

Several other research firms have also recently weighed in on FLNC. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Bank of America dropped their price objective on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Truist Financial boosted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Piper Sandler lifted their target price on shares of Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets lifted their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.47.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. PARK CIRCLE Co acquired a new position in Fluence Energy in the 2nd quarter valued at about $28,000. US Bancorp DE grew its stake in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the last quarter. GAMMA Investing LLC grew its stake in Fluence Energy by 264.9% in the 2nd 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 during the last quarter. Blue Trust Inc. acquired a new position in Fluence Energy in the 2nd quarter valued at about $58,000. Finally, CWM LLC grew its stake in Fluence Energy by 164.4% in the 3rd 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 last quarter. 53.16% of the stock is owned by institutional investors.

Fluence Energy Trading Down 1.1 %

The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 146.15, a price-to-earnings-growth ratio of 0.79 and a beta of 2.54. The stock’s 50 day moving average is $21.26 and its 200 day moving average is $19.65.

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.