Mirae Asset Global Investments Co. Ltd. Makes New $1.38 Million Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 60,000 shares of the company's stock, valued at approximately $1,375,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FLNC. PARK CIRCLE Co acquired a new position in Fluence Energy during the 2nd quarter worth approximately $28,000. Baillie Gifford & Co. bought a new position in shares of Fluence Energy in the first quarter worth about $38,000. CWM LLC increased its holdings in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after purchasing an additional 1,767 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Fluence Energy by 264.9% during the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company's stock valued at $51,000 after acquiring an additional 2,146 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in Fluence Energy in the second quarter valued at $58,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Trading Down 2.2 %

NASDAQ:FLNC traded down $0.47 during trading hours on Friday, hitting $21.28. 1,474,840 shares of the company traded hands, compared to its average volume of 2,195,064. The firm has a 50-day moving average of $20.71 and a 200 day moving average of $19.21. Fluence Energy, Inc. has a twelve month low of $12.74 and a twelve month high of $27.80. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of -114.36, a P/E/G ratio of 0.74 and a beta of 2.54.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the business's stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the purchase, the director now owns 65,861 shares of the company's stock, valued at approximately $1,107,123.41. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Bank of America lowered their target price on Fluence Energy from $29.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, July 17th. Susquehanna raised their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a "positive" rating in a report on Wednesday, October 16th. Guggenheim upgraded shares of Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 price objective for the company in a report on Friday, August 9th. Robert W. Baird reduced their price target on Fluence Energy from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Finally, Piper Sandler boosted their price objective on shares of Fluence Energy from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.11.

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.