Robert W. Baird Cuts Fluence Energy (NASDAQ:FLNC) Price Target to $24.00

Fluence Energy (NASDAQ:FLNC) had its price objective reduced by equities research analysts at Robert W. Baird from $27.00 to $24.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 26.32% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Truist Financial upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, August 9th. Finally, Piper Sandler raised their price objective on shares of Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and an average price target of $26.47.

Fluence Energy Stock Performance

FLNC stock opened at $19.00 on Wednesday. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $27.80. The business’s 50-day moving average is $21.32 and its two-hundred day moving average is $19.64. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 146.15, a P/E/G ratio of 0.79 and a beta of 2.54.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently bought and sold shares of the business. Nicola Wealth Management LTD. grew its holdings in shares of Fluence Energy by 62.0% in the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock worth $1,840,000 after purchasing an additional 31,000 shares during the last quarter. Credit Capital Investments LLC lifted its holdings in shares of Fluence Energy by 391.7% during the 3rd 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 during the last quarter. Banque Cantonale Vaudoise boosted its holdings in Fluence Energy by 124.4% in the third quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock worth $1,340,000 after acquiring an additional 32,699 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Fluence Energy in the 3rd quarter worth approximately $5,742,000. Finally, DRW Securities LLC purchased a new stake in shares of Fluence Energy during the third quarter valued at $1,124,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.