Fluence Energy (NASDAQ:FLNC) Trading 6.1% Higher – Should You Buy?

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price was up 6.1% on Monday . The company traded as high as $22.65 and last traded at $22.57. Approximately 152,943 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 2,185,476 shares. The stock had previously closed at $21.28.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Susquehanna upped their price target on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Piper Sandler lifted their price objective on Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group began coverage on Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Guggenheim upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Fluence Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.11.

Fluence Energy Price Performance

The company has a market cap of $4.05 billion, a P/E ratio of -117.99, a PEG ratio of 0.75 and a beta of 2.54. The business’s 50 day moving average price is $20.88 and its 200-day moving average price is $19.39.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the purchase, the director now owns 65,861 shares in the company, valued at $1,107,123.41. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Institutional investors have recently modified their holdings of the stock. Credit Capital Investments LLC increased its holdings in shares of Fluence Energy by 391.7% in the third quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock valued at $1,340,000 after purchasing an additional 47,000 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Fluence Energy in the 3rd quarter valued at $471,000. Victory Capital Management Inc. acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at $212,000. Principal Financial Group Inc. bought a new stake in shares of Fluence Energy during the third quarter worth $5,742,000. Finally, Harvest Portfolios Group Inc. lifted its stake in shares of Fluence Energy by 26.7% during the third quarter. Harvest Portfolios Group Inc. now owns 24,523 shares of the company’s stock valued at $557,000 after acquiring an additional 5,172 shares during the period. 53.16% of the stock is 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.