Fluence Energy, Inc. (NASDAQ:FLNC) Position Boosted by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 9.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,069 shares of the company’s stock after purchasing an additional 1,851 shares during the quarter. Federated Hermes Inc.’s holdings in Fluence Energy were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FLNC. Charles Schwab Investment Management Inc. grew its stake in Fluence Energy by 49.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 454,053 shares of the company’s stock valued at $10,829,000 after purchasing an additional 149,404 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $4,851,000. Norges Bank acquired a new position in Fluence Energy in the fourth quarter worth approximately $13,931,000. Quest Partners LLC acquired a new stake in Fluence Energy in the fourth quarter valued at approximately $60,000. Finally, Franklin Resources Inc. grew its position in Fluence Energy by 6.8% in the fourth quarter. Franklin Resources Inc. now owns 147,110 shares of the company’s stock worth $3,509,000 after acquiring an additional 9,322 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Jefferies Financial Group started coverage on Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Barclays lowered their price target on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Bank of America dropped their target price on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Robert W. Baird decreased their price target on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased 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 owns 65,861 shares in the company, valued at $1,107,123.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Fluence Energy Stock Up 1.5 %

Shares of FLNC opened at $21.88 on Tuesday. The stock’s fifty day simple moving average is $17.86 and its 200-day simple moving average is $18.16. The firm has a market capitalization of $3.93 billion, a PE ratio of -56.10, a price-to-earnings-growth 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.

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.