Fluence Energy (NASDAQ:FLNC) Price Target Raised to $15.00 at The Goldman Sachs Group

Fluence Energy (NASDAQ:FLNCGet Rating) had its target price upped by stock analysts at The Goldman Sachs Group from $9.50 to $15.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 13.39% from the stock’s current price.

FLNC has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Robert W. Baird reduced their target price on Fluence Energy from $25.00 to $15.00 in a report on Friday, May 13th. Credit Suisse Group cut their price target on Fluence Energy from $37.00 to $29.00 in a report on Monday, May 16th. Royal Bank of Canada dropped their target price on shares of Fluence Energy from $28.00 to $18.00 in a research report on Wednesday, May 18th. Finally, Canaccord Genuity Group began coverage on shares of Fluence Energy in a research report on Wednesday, July 13th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.82.

Fluence Energy Stock Performance

FLNC stock opened at $17.32 on Wednesday. The stock has a market cap of $2.98 billion and a P/E ratio of -8.79. The firm has a 50 day simple moving average of $11.39 and a 200 day simple moving average of $11.50. Fluence Energy has a 52 week low of $4.96 and a 52 week high of $39.40.

Insider Buying and Selling

In other news, Director Cynthia A. Arnold acquired 10,000 shares of the stock in a transaction dated Tuesday, May 31st. The stock was bought at an average price of $10.13 per share, with a total value of $101,300.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $101,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 value of $854,711.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cynthia A. Arnold acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The shares were bought at an average cost of $10.13 per share, with a total value of $101,300.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $101,300. The disclosure for this purchase can be found here. 0.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Fluence Energy during the 4th quarter valued at $46,000. Point72 Hong Kong Ltd bought a new stake in shares of Fluence Energy in the second quarter valued at $39,000. Bank of Montreal Can increased its holdings in Fluence Energy by 54.0% in the 1st quarter. Bank of Montreal Can now owns 12,834 shares of the company’s stock worth $171,000 after acquiring an additional 4,501 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Fluence Energy by 47.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 14,566 shares of the company’s stock valued at $191,000 after acquiring an additional 4,678 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Fluence Energy by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 173,601 shares of the company’s stock worth $2,276,000 after purchasing an additional 4,680 shares during the period.

About Fluence Energy

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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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