Canaccord Genuity Group Issues Pessimistic Forecast for Fluence Energy (NASDAQ:FLNC) Stock Price

Fluence Energy (NASDAQ:FLNC) had its target price reduced by analysts at Canaccord Genuity Group from $37.00 to $34.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 85.69% from the company’s previous close.

Several other research analysts also recently issued reports on FLNC. Robert W. Baird reduced their price target on shares of Fluence Energy from $27.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, August 9th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a report on Friday, November 8th. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets lifted their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.85.

Fluence Energy Stock Down 0.3 %

FLNC traded down $0.06 during trading on Friday, hitting $18.31. The company’s stock had a trading volume of 415,065 shares, compared to its average volume of 2,235,726. The firm’s 50 day moving average price is $21.14 and its two-hundred day moving average price is $19.64. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 140.85, a price-to-earnings-growth 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.

Hedge Funds Weigh In On Fluence Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC boosted its holdings in shares of Fluence Energy by 3.8% in the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after buying an additional 897 shares during the period. US Bancorp DE lifted its holdings in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after buying an additional 1,502 shares during the period. PARK CIRCLE Co acquired a new stake in Fluence Energy in the 2nd quarter valued at approximately $28,000. Finally, CWM LLC lifted 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 acquiring an additional 1,767 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.