KBC Group NV Has $2.42 Million Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

KBC Group NV increased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 219.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,625 shares of the company's stock after purchasing an additional 73,278 shares during the period. KBC Group NV owned approximately 0.06% of Fluence Energy worth $2,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FLNC. Avantax Advisory Services Inc. grew its position in shares of 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 purchasing an additional 7,890 shares in the last quarter. ProShare Advisors LLC increased its stake in Fluence Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company's stock worth $183,000 after acquiring an additional 830 shares during the period. 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 in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Fluence Energy during the 1st quarter valued at $1,574,000. Finally, Clearbridge Investments LLC grew its holdings in shares of Fluence Energy by 3.7% during the 1st quarter. Clearbridge Investments LLC now owns 1,476,914 shares of the company's stock worth $25,610,000 after purchasing an additional 52,744 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLNC. BNP Paribas raised Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price target for the company in a research note on Friday, November 8th. Jefferies Financial Group assumed coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price target for the company. 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. BMO Capital Markets upped their target price on Fluence Energy from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Susquehanna lifted their price target on Fluence Energy from $23.00 to $28.00 and gave the company a "positive" rating in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.63.

Fluence Energy Stock Performance

Shares of FLNC traded up $1.45 during mid-day trading on Tuesday, reaching $21.09. 2,153,737 shares of the company were exchanged, compared to its average volume of 2,189,219. The business has a 50 day simple moving average of $21.22 and a two-hundred day simple moving average of $19.58. The stock has a market capitalization of $3.81 billion, a PE ratio of -110.99, a PEG ratio of 0.68 and a beta of 2.54. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $27.80.

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.