Rhumbline Advisers Acquires 14,992 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Rhumbline Advisers boosted its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 19.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,380 shares of the company’s stock after purchasing an additional 14,992 shares during the quarter. Rhumbline Advisers owned about 0.05% of Fluence Energy worth $1,619,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Fluence Energy by 49.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 454,053 shares of the company’s stock valued at $10,829,000 after buying an additional 149,404 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Fluence Energy during the fourth quarter valued at approximately $4,851,000. Norges Bank bought a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $13,931,000. Clearbridge Investments LLC boosted its holdings in shares of Fluence Energy by 20.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,424,170 shares of the company’s stock worth $33,966,000 after purchasing an additional 239,772 shares during the period. Finally, Trexquant Investment LP increased its position in shares of Fluence Energy by 62.2% during the 4th quarter. Trexquant Investment LP now owns 154,289 shares of the company’s stock valued at $3,680,000 after purchasing an additional 59,194 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $16.81 per share, with a total value of $168,100.00. Following the transaction, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.

Fluence Energy Trading Up 1.0 %

Shares of NASDAQ:FLNC opened at $21.56 on Friday. The company has a market capitalization of $3.87 billion, a PE ratio of -55.28, a P/E/G ratio of 3.99 and a beta of 2.51. Fluence Energy, Inc. has a 12-month low of $12.74 and a 12-month high of $27.80. The business’s fifty day simple moving average is $17.75 and its 200-day simple moving average is $18.07.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLNC. Piper Sandler cut their price objective on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Bank of America decreased their price objective on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada raised Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. Jefferies Financial Group started coverage on Fluence Energy in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. Finally, Robert W. Baird cut their price objective on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy currently has an average rating of “Moderate Buy” and a consensus target price of $26.63.

Fluence Energy 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.