Fluence Energy, Inc. (NASDAQ:FLNC) Stock Holdings Raised by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 1,355.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,024,114 shares of the company's stock after buying an additional 953,761 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.57% of Fluence Energy worth $17,758,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Lazard Freres Gestion S.A.S. acquired a new position in Fluence Energy during the 2nd quarter valued at about $26,877,000. Allspring Global Investments Holdings LLC raised its position in shares of Fluence Energy by 305.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 30,952 shares of the company's stock valued at $537,000 after acquiring an additional 23,319 shares during the period. Bank of New York Mellon Corp raised its position in shares of Fluence Energy by 19.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company's stock valued at $3,775,000 after acquiring an additional 35,701 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Fluence Energy in the 2nd quarter valued at approximately $184,000. Finally, Blue Trust Inc. acquired a new stake in shares of Fluence Energy in the 2nd quarter valued at approximately $58,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $16.81 per share, with a total value of $168,100.00. Following the acquisition, the director now directly owns 65,861 shares of the company's stock, valued at approximately $1,107,123.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by company insiders.

Fluence Energy Stock Up 0.4 %

Shares of NASDAQ:FLNC traded up $0.07 during midday trading on Friday, hitting $18.37. The stock had a trading volume of 1,179,422 shares, compared to its average volume of 2,367,895. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $28.14. The business's 50-day simple moving average is $17.00 and its 200-day simple moving average is $17.77. The company has a market cap of $3.30 billion, a P/E ratio of -46.62 and a beta of 2.50.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays cut their price target on shares of Fluence Energy from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, July 26th. Robert W. Baird cut their price target 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. JPMorgan Chase & Co. increased their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, July 16th. Truist Financial started coverage on Fluence Energy in a research note on Wednesday, July 10th. They set a "buy" rating and a $25.00 target price for the company. Finally, Bank of America lowered their target price on Fluence Energy from $29.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.

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.