ProShare Advisors LLC Boosts Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

ProShare Advisors LLC lifted its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 17.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,328 shares of the company’s stock after purchasing an additional 1,789 shares during the period. ProShare Advisors LLC’s holdings in Fluence Energy were worth $214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in Fluence Energy during the fourth quarter worth $1,375,000. KBC Group NV purchased a new stake in shares of Fluence Energy during the 4th quarter worth $583,000. Westwood Holdings Group Inc. bought a new stake in Fluence Energy during the fourth quarter valued at about $4,401,000. Quadrature Capital Ltd purchased a new position in Fluence Energy in the fourth quarter valued at about $1,136,000. Finally, Ghisallo Capital Management LLC bought a new position in Fluence Energy in the fourth quarter worth about $11,925,000. 53.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial started coverage on shares of Fluence Energy in a research report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price objective on the stock. Scotiabank raised Fluence Energy to a “hold” rating in a research report on Friday, July 12th. Piper Sandler lowered their price objective on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Robert W. Baird reduced their target price 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. Finally, Jefferies Financial Group began coverage on Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy has an average rating of “Moderate Buy” and a consensus price target of $26.21.

Fluence Energy Stock Performance

NASDAQ:FLNC opened at $21.99 on Friday. The firm’s fifty day moving average is $18.89 and its two-hundred day moving average is $18.61. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -56.38, a PEG ratio of 7.24 and a beta of 2.54. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $27.80.

Insider Activity

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $16.81 per share, with a total value 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 trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company’s stock.

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.