Fluence Energy (NASDAQ:FLNC) Stock Price Up 10%

Fluence Energy, Inc. (NASDAQ:FLNC) shot up 10% on Wednesday . The company traded as high as $20.70 and last traded at $20.70. Approximately 450,169 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,251,360 shares. The stock had previously closed at $18.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FLNC shares. Citigroup boosted their target price on shares of Fluence Energy from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. HSBC upped their price objective on shares of Fluence Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, September 27th. BMO Capital Markets dropped their target price on Fluence Energy from $31.00 to $28.00 and set a “market perform” rating on the stock in a research report on Monday, August 14th. Guggenheim increased their price target on Fluence Energy from $40.00 to $44.00 in a report on Friday, August 11th. Finally, Roth Mkm cut their target price on Fluence Energy from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

Fluence Energy Trading Down 5.5 %

The firm has a market cap of $3.24 billion, a P/E ratio of -19.44 and a beta of 2.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.92 and a current ratio of 1.46. The firm has a fifty day moving average of $20.75 and a 200-day moving average of $23.54.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Fluence Energy in the 2nd quarter worth about $25,000. National Bank of Canada FI acquired a new stake in shares of Fluence Energy in the third quarter valued at approximately $27,000. Point72 Hong Kong Ltd bought a new stake in shares of Fluence Energy during the second quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC boosted its position in shares of Fluence Energy by 185.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after buying an additional 1,388 shares during the period. Finally, Quarry LP grew its holdings in Fluence Energy by 342.2% in the 1st quarter. Quarry LP now owns 2,401 shares of the company’s stock worth $49,000 after buying an additional 1,858 shares in the last quarter. 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 services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.