Fluence Energy (NASDAQ:FLNC – Get Rating) had its price target lowered by stock analysts at Morgan Stanley from $16.00 to $13.00 in a research note issued on Monday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 46.56% from the company’s previous close.
Several other equities analysts have also recently issued reports on FLNC. HSBC assumed coverage on shares of Fluence Energy in a research note on Wednesday, February 16th. They issued a “buy” rating and a $26.00 price objective on the stock. The Goldman Sachs Group cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $9.50 in a research note on Friday, May 13th. JPMorgan Chase & Co. dropped their price objective on shares of Fluence Energy from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 19th. Guggenheim began coverage on shares of Fluence Energy in a research note on Tuesday, March 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird lowered their price target on shares of Fluence Energy from $25.00 to $15.00 in a research note on Friday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $31.66.
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FLNC traded down $0.47 during trading on Monday, hitting $8.87. The stock had a trading volume of 15,498 shares, compared to its average volume of 1,523,273. The company’s 50-day moving average price is $9.80 and its 200 day moving average price is $17.23. Fluence Energy has a twelve month low of $4.96 and a twelve month high of $39.40.
In other news, Director Cynthia A. Arnold bought 10,000 shares of Fluence Energy stock in a transaction on Tuesday, May 31st. The shares were bought at an average cost of $10.13 per share, for a total transaction of $101,300.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $101,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seyed Madaeni sold 84,208 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were 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 owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Fluence Energy during the 4th quarter valued at about $46,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Fluence Energy during the 4th quarter valued at about $47,000. Cubist Systematic Strategies LLC acquired a new position in shares of Fluence Energy during the 4th quarter valued at about $57,000. Citigroup Inc. acquired a new position in shares of Fluence Energy during the 4th quarter valued at about $76,000. Finally, Legal & General Group Plc acquired a new position in shares of Fluence Energy during the 4th quarter valued at about $102,000.
About Fluence Energy (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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