Dimensional Fund Advisors LP Grows Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Dimensional Fund Advisors LP lifted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 40.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 735,183 shares of the company’s stock after purchasing an additional 212,654 shares during the period. Dimensional Fund Advisors LP owned about 0.41% of Fluence Energy worth $12,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Fluence Energy by 41.0% during the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after buying an additional 1,605,345 shares during the period. Lazard Freres Gestion S.A.S. purchased a new stake in shares of Fluence Energy during the second quarter worth about $26,877,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Fluence Energy by 1,355.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock worth $17,758,000 after acquiring an additional 953,761 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Fluence Energy by 21.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock valued at $75,086,000 after purchasing an additional 757,105 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in Fluence Energy during the 4th quarter valued at approximately $11,925,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FLNC. Barclays cut their target price on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Truist Financial began coverage on shares of Fluence Energy in a research note on Wednesday, July 10th. They set a “buy” rating and a $25.00 price objective on the stock. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, August 9th. Piper Sandler reduced their price target 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. Finally, Robert W. Baird lowered their price objective on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.21.

Fluence Energy Stock Performance

Fluence Energy stock opened at $21.99 on Friday. The firm has a market capitalization of $3.94 billion, a P/E ratio of -56.38, a P/E/G ratio of 7.24 and a beta of 2.54. The company has a 50-day simple moving average of $18.89 and a 200-day simple moving average of $18.61. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $27.80.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the acquisition, the director now owns 65,861 shares in the company, valued at approximately $1,107,123.41. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

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.