Wellington Shields Capital Management LLC Buys 27,000 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Wellington Shields Capital Management LLC raised its holdings in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 122.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,000 shares of the company's stock after acquiring an additional 27,000 shares during the period. Wellington Shields Capital Management LLC's holdings in Fluence Energy were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. PARK CIRCLE Co acquired a new stake in Fluence Energy during the 2nd quarter worth approximately $28,000. Rhumbline Advisers lifted its position in Fluence Energy by 19.1% in the 2nd quarter. Rhumbline Advisers now owns 93,380 shares of the company's stock valued at $1,619,000 after acquiring an additional 14,992 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Fluence Energy in the 2nd quarter worth $109,000. Banque Cantonale Vaudoise increased its holdings in Fluence Energy by 148.5% during the 2nd quarter. Banque Cantonale Vaudoise now owns 26,280 shares of the company's stock worth $455,000 after purchasing an additional 15,704 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Fluence Energy by 6.0% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 52,531 shares of the company's stock valued at $911,000 after purchasing an additional 2,978 shares during the period. 53.16% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Herman E. Bulls acquired 10,000 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

Fluence Energy Price Performance

Fluence Energy stock traded down $1.09 during mid-day trading on Friday, hitting $18.35. 1,391,553 shares of the company's stock traded hands, compared to its average volume of 2,355,141. The firm has a 50 day simple moving average of $16.94 and a two-hundred day simple moving average of $17.70. Fluence Energy, Inc. has a fifty-two week low of $12.74 and a fifty-two week high of $27.80. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of -47.49, a P/E/G ratio of 3.15 and a beta of 2.50.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FLNC. Royal Bank of Canada upgraded Fluence Energy to a "moderate buy" rating in a report on Friday, August 9th. Scotiabank raised shares of Fluence Energy to a "hold" rating in a research report on Friday, July 12th. Guggenheim raised shares of Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 target price for the company in a research report on Friday, August 9th. Bank of America cut their price target on shares of Fluence Energy from $29.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. Finally, Robert W. Baird decreased their price objective on Fluence Energy from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.