Credit Capital Investments LLC Acquires 47,000 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Credit Capital Investments LLC lifted its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 391.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,000 shares of the company's stock after buying an additional 47,000 shares during the period. Fluence Energy comprises 1.7% of Credit Capital Investments LLC's holdings, making the stock its 15th largest position. Credit Capital Investments LLC's holdings in Fluence Energy were worth $1,340,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new position in shares of Fluence Energy during the 1st quarter worth about $3,247,000. Vanguard Group Inc. raised its holdings in Fluence Energy by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company's stock valued at $107,130,000 after acquiring an additional 656,839 shares during the period. Clearbridge Investments LLC raised its holdings in Fluence Energy by 1.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company's stock valued at $26,025,000 after acquiring an additional 23,927 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Fluence Energy in the 2nd quarter valued at about $3,916,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Fluence Energy during the first quarter worth approximately $132,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Down 1.1 %

FLNC traded down $0.23 during midday trading on Wednesday, hitting $20.22. The company had a trading volume of 1,255,334 shares, compared to its average volume of 2,192,450. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $27.80. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -106.42, a PEG ratio of 0.72 and a beta of 2.54. The stock's 50 day moving average price is $21.15 and its 200 day moving average price is $19.53.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of Fluence Energy from $25.00 to $24.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Susquehanna raised their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the company a "positive" rating in a research report on Wednesday, October 16th. Guggenheim upgraded shares of 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. Robert W. Baird cut their target price on shares of Fluence Energy from $34.00 to $27.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler raised their target price on shares of Fluence Energy from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of "Moderate Buy" and an average target price of $26.63.

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.