Fluence Energy, Inc. (NASDAQ:FLNC) Given Average Recommendation of “Buy” by Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC – Get Rating) have been given an average recommendation of “Buy” by the twenty research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $31.84.

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Fluence Energy from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, April 19th. Robert W. Baird cut their price target on Fluence Energy from $25.00 to $15.00 in a research note on Friday, May 13th. Zacks Investment Research upgraded Fluence Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. The Goldman Sachs Group lowered Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $9.50 in a research note on Friday, May 13th. Finally, Citigroup cut their price target on Fluence Energy from $47.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, February 15th.

Shares of FLNC opened at $9.70 on Friday. Fluence Energy has a 1-year low of $4.96 and a 1-year high of $39.40. The firm has a fifty day simple moving average of $9.89 and a two-hundred day simple moving average of $17.68.

In other Fluence Energy news, Director Cynthia A. Arnold purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was purchased at an average price of $10.13 per share, with a total value of $101,300.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $101,300. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Seyed Madaeni sold 84,208 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $10.15, for a total transaction of $854,711.20. The disclosure for this sale can be found here. 0.01% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in shares of Fluence Energy during the fourth quarter worth approximately $106,061,000. Electron Capital Partners LLC increased its position in shares of Fluence Energy by 29.8% during the first quarter. Electron Capital Partners LLC now owns 2,333,871 shares of the company’s stock worth $30,597,000 after acquiring an additional 535,160 shares during the period. BlackRock Inc. purchased a new position in shares of Fluence Energy during the fourth quarter worth approximately $70,005,000. Jennison Associates LLC purchased a new position in shares of Fluence Energy during the fourth quarter worth approximately $62,854,000. Finally, Winslow Capital Management LLC increased its position in shares of Fluence Energy by 6.4% during the first quarter. Winslow Capital Management LLC now owns 1,582,290 shares of the company’s stock worth $20,744,000 after acquiring an additional 94,533 shares during the period.

Fluence Energy Company Profile (Get Rating)

Fluence Energy, Inc provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions.

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