Fluence Energy (NASDAQ:FLNC) Given New $27.00 Price Target at Royal Bank of Canada

Fluence Energy (NASDAQ:FLNC) had its target price lowered by Royal Bank of Canada from $28.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on FLNC. Susquehanna upped their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective on the stock. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. BMO Capital Markets increased their price target on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Guggenheim upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.85.

Fluence Energy Stock Up 2.4 %

FLNC stock opened at $18.81 on Wednesday. The firm has a 50 day moving average of $21.08 and a two-hundred day moving average of $19.65. Fluence Energy has a 12 month low of $12.74 and a 12 month high of $27.80. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 144.69, a P/E/G ratio of 0.62 and a beta of 2.54.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in Fluence Energy by 3.8% in the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after purchasing an additional 897 shares during the period. US Bancorp DE boosted its position in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares in the last quarter. Blue Trust Inc. increased its stake in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after acquiring an additional 1,502 shares during the period. PARK CIRCLE Co acquired a new position in Fluence Energy in the second quarter worth about $28,000. Finally, CWM LLC lifted its stake in Fluence Energy by 164.4% during the third 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 period. 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.