Fluence Energy (NASDAQ:FLNC) Upgraded at BNP Paribas

Fluence Energy (NASDAQ:FLNC) was upgraded by equities research analysts at BNP Paribas from an “underperform” rating to a “neutral” rating in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $22.00 price target on the stock. BNP Paribas’ price target points to a potential upside of 9.24% from the company’s current price.

Other equities analysts have also issued research reports about the company. Scotiabank raised Fluence Energy to a “hold” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. boosted their target price on Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Susquehanna boosted their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Truist Financial boosted their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada raised Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.63.

Fluence Energy Price Performance

FLNC opened at $20.14 on Friday. The stock has a 50-day moving average price of $20.94 and a 200-day moving average price of $19.39. The firm has a market cap of $3.64 billion, a PE ratio of -106.00, a P/E/G ratio of 0.78 and a beta of 2.54. Fluence Energy has a 1 year low of $12.74 and a 1 year high of $27.80.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the company’s stock in a transaction 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 purchase, the director now directly owns 65,861 shares of the company’s stock, valued at $1,107,123.41. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC boosted its stake in Fluence Energy by 337.4% in the 3rd quarter. Quest Partners LLC now owns 28,095 shares of the company’s stock worth $638,000 after purchasing an additional 21,672 shares during the period. Nicola Wealth Management LTD. boosted its stake in Fluence Energy by 62.0% in the 3rd 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 period. Aubrey Capital Management Ltd purchased a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $309,000. KBC Group NV raised its holdings in shares of Fluence Energy by 219.7% during the 3rd quarter. KBC Group NV now owns 106,625 shares of the company’s stock worth $2,421,000 after acquiring an additional 73,278 shares in the last quarter. Finally, Credit Capital Investments LLC raised 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 worth $1,340,000 after acquiring an additional 47,000 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 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.