Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by Comerica Bank

Comerica Bank lifted its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 79.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,211 shares of the company’s stock after purchasing an additional 1,860 shares during the period. Comerica Bank’s holdings in Fluence Energy were worth $73,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Fluence Energy by 11.9% in the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after buying an additional 656,839 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Fluence Energy by 21.2% in 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 last quarter. Handelsbanken Fonder AB raised its position in shares of Fluence Energy by 145.5% during the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after purchasing an additional 1,706,808 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Fluence Energy by 3.7% during the first quarter. Clearbridge Investments LLC now owns 1,476,914 shares of the company’s stock valued at $25,610,000 after purchasing an additional 52,744 shares during the last quarter. Finally, Clean Energy Transition LLP acquired a new position in shares of Fluence Energy in the 4th quarter valued at $32,124,000. 53.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price 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 in the company, valued at approximately $1,107,123.41. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Fluence Energy Stock Performance

FLNC opened at $17.24 on Monday. The company has a market cap of $3.09 billion, a PE ratio of -44.21 and a beta of 2.50. The stock has a 50-day moving average of $17.50 and a 200-day moving average of $17.86. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $28.14.

Analyst Ratings Changes

Several research firms have issued reports on FLNC. Evercore ISI cut their price objective on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Guggenheim upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Friday, August 9th. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird decreased their target price on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.67.

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.