Fluence Energy, Inc. (NASDAQ:FLNC) Shares Purchased by Barclays PLC

Barclays PLC increased its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 296.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,766 shares of the company's stock after purchasing an additional 135,957 shares during the period. Barclays PLC owned approximately 0.10% of Fluence Energy worth $4,127,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Main Management ETF Advisors LLC bought a new position in Fluence Energy in the 3rd quarter valued at $1,234,000. XTX Topco Ltd purchased a new position in shares of Fluence Energy in the 3rd quarter worth about $825,000. Zimmer Partners LP bought a new position in Fluence Energy during the third quarter valued at approximately $5,678,000. Point72 DIFC Ltd bought a new stake in Fluence Energy in the third quarter worth $74,000. Finally, Point72 Asset Management L.P. purchased a new stake in Fluence Energy during the 3rd quarter valued at about $21,809,000. Institutional investors and hedge funds own 53.16% of the company's stock.

Fluence Energy Stock Up 4.8 %

Shares of FLNC traded up $0.73 during mid-day trading on Monday, reaching $15.94. The company had a trading volume of 2,003,918 shares, compared to its average volume of 2,375,140. The stock has a market capitalization of $2.89 billion, a P/E ratio of 122.62, a PEG ratio of 0.54 and a beta of 2.39. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $26.12. The stock has a 50 day moving average of $19.64 and a two-hundred day moving average of $19.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $0.02 EPS. The firm's revenue was up 82.5% compared to the same quarter last year. On average, sell-side analysts expect that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Susquehanna raised their price target on Fluence Energy from $23.00 to $28.00 and gave the stock a "positive" rating in a research note on Wednesday, October 16th. Canaccord Genuity Group decreased their target price on shares of Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Piper Sandler increased their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, November 27th. Robert W. Baird reissued a "neutral" rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Finally, BNP Paribas raised shares of Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $26.65.

Fluence Energy Profile

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.