Fluence Energy (NASDAQ:FLNC) Stock Price Up 6.4% – Still a Buy?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) rose 6.4% during mid-day trading on Tuesday . The company traded as high as $20.97 and last traded at $20.90. Approximately 606,883 shares were traded during trading, a decline of 72% from the average daily volume of 2,182,313 shares. The stock had previously closed at $19.64.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLNC. Barclays lowered their price target on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Piper Sandler lifted their price target on Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Robert W. Baird reduced their price target on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Citigroup lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Finally, BMO Capital Markets boosted 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’s stock. According to data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Price Performance

The business has a fifty day moving average of $21.26 and a 200-day moving average of $19.58.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FLNC. PARK CIRCLE Co bought a new stake in Fluence Energy in the 2nd quarter worth about $28,000. US Bancorp DE increased its holdings in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the last quarter. GAMMA Investing LLC raised its position in Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after acquiring an additional 2,146 shares during the period. Blue Trust Inc. bought a new position in shares of Fluence Energy during the 2nd quarter valued at approximately $58,000. Finally, CWM LLC increased its stake in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the last quarter. Hedge funds and other 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.