HighTower Advisors LLC Acquires 4,190 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

HighTower Advisors LLC grew its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 28.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,865 shares of the company’s stock after purchasing an additional 4,190 shares during the period. HighTower Advisors LLC’s holdings in Fluence Energy were worth $428,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PARK CIRCLE Co acquired a new position in shares of Fluence Energy during the second quarter worth $28,000. US Bancorp DE lifted its holdings in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. CWM LLC grew its position in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy in the third quarter valued at about $87,000. Finally, Blue Trust Inc. raised its position in shares of Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after acquiring an additional 1,502 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Wall Street Analyst Weigh In

FLNC has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research report on Friday, November 8th. BMO Capital Markets lifted their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Canaccord Genuity Group cut their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Piper Sandler lifted their target price on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Finally, Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of Fluence Energy in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.65.

Fluence Energy Stock Up 1.4 %

Shares of Fluence Energy stock opened at $15.21 on Friday. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $26.12. The company has a market capitalization of $2.75 billion, a PE ratio of 117.00, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The stock’s fifty day moving average is $19.64 and its two-hundred day moving average is $19.16.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

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.