252,824 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 252,824 shares of the company's stock, valued at approximately $5,742,000. Principal Financial Group Inc. owned 0.14% of Fluence Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FLNC. FMR LLC raised its position in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company's stock worth $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Fluence Energy during the third quarter valued at approximately $22,059,000. XTX Topco Ltd bought a new stake in Fluence Energy during the third quarter worth approximately $825,000. Barclays PLC grew its position in Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company's stock worth $4,127,000 after buying an additional 135,957 shares during the last quarter. Finally, Nicola Wealth Management LTD. increased its holdings in shares of Fluence Energy by 62.0% in the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company's stock valued at $1,840,000 after buying an additional 31,000 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

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 that occurred on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares of the company's stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

FLNC has been the subject of several analyst reports. Truist Financial upped their target price on Fluence Energy from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Piper Sandler upped their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, November 27th. Guggenheim reiterated a "buy" rating and set a $26.00 price objective on shares of Fluence Energy in a research report on Friday, December 6th. Bank of America lowered their price target on Fluence Energy from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Finally, Susquehanna raised their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a "positive" rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $26.65.

Fluence Energy Stock Up 6.5 %

Shares of NASDAQ:FLNC traded up $1.03 during trading on Thursday, reaching $16.91. The stock had a trading volume of 1,697,018 shares, compared to its average volume of 2,362,057. The stock has a fifty day simple moving average of $18.77 and a two-hundred day simple moving average of $18.79. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 130.08, a P/E/G ratio of 0.54 and a beta of 2.39. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business's revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS. On average, analysts forecast that Fluence Energy, Inc. will post 0.56 EPS for the current year.

Fluence Energy Company Profile

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.