Fluence Energy (NASDAQ:FLNC) Trading 8.4% Higher

Fluence Energy, Inc. (NASDAQ:FLNC) shares traded up 8.4% on Tuesday . The stock traded as high as $17.11 and last traded at $17.09. 1,109,074 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 2,441,771 shares. The stock had previously closed at $15.77.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays cut their target price on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Piper Sandler cut their target price on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley cut their target price on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Guggenheim raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Friday, August 9th. Finally, Susquehanna cut their price objective on Fluence Energy from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Fluence Energy has an average rating of “Moderate Buy” and an average price target of $26.67.

Fluence Energy Stock Up 4.9 %

The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -42.62 and a beta of 2.50. The stock has a 50 day moving average of $17.71 and a 200 day moving average of $17.92.

Insider Buying and Selling

In other news, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the purchase, the director now owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNC. PARK CIRCLE Co acquired a new position in Fluence Energy in the second quarter valued at approximately $28,000. Pflug Koory LLC bought a new stake in shares of Fluence Energy during the first quarter valued at approximately $35,000. Quarry LP bought a new stake in shares of Fluence Energy during the fourth quarter valued at approximately $38,000. Baillie Gifford & Co. bought a new stake in shares of Fluence Energy during the first quarter valued at approximately $38,000. Finally, GAMMA Investing LLC raised its holdings in shares of Fluence Energy by 264.9% during the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after buying an additional 2,146 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.