Nicola Wealth Management LTD. trimmed its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 47.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company's stock after selling 45,000 shares during the period. Nicola Wealth Management LTD.'s holdings in Fluence Energy were worth $867,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in FLNC. Vanguard Group Inc. raised its stake in shares of Fluence Energy by 11.9% in the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company's stock valued at $107,130,000 after purchasing an additional 656,839 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Fluence Energy by 21.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company's stock worth $75,086,000 after acquiring an additional 757,105 shares during the period. Lazard Freres Gestion S.A.S. acquired a new stake in shares of Fluence Energy during the 2nd quarter valued at about $26,877,000. Clearbridge Investments LLC increased its stake in Fluence Energy by 3.7% in the first quarter. Clearbridge Investments LLC now owns 1,476,914 shares of the company's stock valued at $25,610,000 after acquiring an additional 52,744 shares during the period. Finally, Clean Energy Transition LLP acquired a new position in Fluence Energy in the fourth quarter worth about $32,124,000. Institutional investors own 53.16% of the company's stock.
Fluence Energy Trading Up 0.4 %
Shares of FLNC traded up $0.07 during trading hours on Friday, hitting $18.37. 1,179,855 shares of the stock traded hands, compared to its average volume of 2,367,895. The business has a fifty day moving average of $16.97 and a 200-day moving average of $17.73. The firm has a market capitalization of $3.30 billion, a PE ratio of -47.10 and a beta of 2.50. Fluence Energy, Inc. has a 1-year low of $12.74 and a 1-year high of $28.14.
Insiders Place Their Bets
In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the acquisition, the director now directly owns 65,861 shares of the company's stock, valued at approximately $1,107,123.41. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Morgan Stanley lowered their price objective on Fluence Energy from $32.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Friday, May 10th. Barclays dropped their price objective on Fluence Energy from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on Fluence Energy from $25.00 to $28.00 and gave the company an "overweight" rating in a report on Tuesday, July 16th. Bank of America lowered their target price on shares of Fluence Energy from $29.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Finally, Roth Mkm restated a "buy" rating and issued a $27.00 price target (down from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $26.67.
Check Out Our Latest Analysis on FLNC
About Fluence Energy
(
Free Report)
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.
Further Reading
Before you consider Fluence Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fluence Energy wasn't on the list.
While Fluence Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
