Walleye Capital LLC bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC – Get Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 72,436 shares of the company’s stock, valued at approximately $950,000.
Several other institutional investors also recently modified their holdings of FLNC. Northern Trust Corp acquired a new position in shares of Fluence Energy in the fourth quarter valued at approximately $4,496,000. HighTower Advisors LLC bought a new stake in shares of Fluence Energy in the fourth quarter worth $545,000. Rhumbline Advisers acquired a new stake in Fluence Energy in the fourth quarter valued at $1,016,000. Invesco Ltd. bought a new position in Fluence Energy during the 4th quarter worth $24,367,000. Finally, Schroder Investment Management Group acquired a new position in Fluence Energy during the 4th quarter worth about $41,041,000. 21.33% of the stock is currently owned by institutional investors and hedge funds.
Fluence Energy Stock Performance
FLNC opened at $18.58 on Tuesday. The firm has a market cap of $3.21 billion and a P/E ratio of -9.43. Fluence Energy, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $39.40. The firm has a 50-day moving average of $15.75 and a 200 day moving average of $12.28.
Insider Buying and Selling at Fluence Energy
Analyst Upgrades and Downgrades
FLNC has been the topic of several analyst reports. Canaccord Genuity Group upped their target price on Fluence Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Morgan Stanley upped their price target on shares of Fluence Energy from $13.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, August 18th. The Goldman Sachs Group lifted their price objective on Fluence Energy from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. Evercore ISI raised their price objective on shares of Fluence Energy to $23.00 in a research report on Monday, August 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.83.
About Fluence Energy
Fluence Energy, Inc provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions.
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