GSA Capital Partners LLP Sells 31,724 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

GSA Capital Partners LLP reduced its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 27.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 84,544 shares of the company's stock after selling 31,724 shares during the quarter. GSA Capital Partners LLP's holdings in Fluence Energy were worth $1,920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in Fluence Energy during the 1st quarter valued at $132,000. Avantax Advisory Services Inc. grew its holdings in Fluence Energy by 62.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 20,515 shares of the company's stock worth $356,000 after acquiring an additional 7,890 shares in the last quarter. ProShare Advisors LLC increased its position in Fluence Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company's stock valued at $183,000 after purchasing an additional 830 shares during the period. SageView Advisory Group LLC bought a new stake in shares of Fluence Energy in the 1st quarter valued at about $78,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Fluence Energy during the first quarter valued at approximately $3,247,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Price Performance

FLNC traded down $0.23 during trading on Wednesday, hitting $20.22. The company's stock had a trading volume of 1,202,391 shares, compared to its average volume of 2,192,192. The stock's fifty day moving average price is $21.12 and its 200-day moving average price is $19.53. Fluence Energy, Inc. has a twelve month low of $12.74 and a twelve month high of $27.80.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FLNC shares. JPMorgan Chase & Co. upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 16th. Jefferies Financial Group initiated coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They set a "buy" rating and a $26.00 price objective on the stock. Bank of America cut their price target on shares of Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Barclays reduced their price target on Fluence Energy from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, July 26th. Finally, Citigroup downgraded Fluence Energy from a "buy" rating to a "neutral" rating and reduced their price target for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.63.

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.