AQR Capital Management LLC Sells 24,501 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

AQR Capital Management LLC lessened its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 29.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,622 shares of the company’s stock after selling 24,501 shares during the period. AQR Capital Management LLC’s holdings in Fluence Energy were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FLNC. Jupiter Asset Management Ltd. bought a new stake in Fluence Energy in the 1st quarter worth $3,247,000. SG Americas Securities LLC purchased a new position in Fluence Energy during the first quarter valued at $4,082,000. Quadrature Capital Ltd bought a new position in shares of Fluence Energy in the fourth quarter worth approximately $1,136,000. Vanguard Group Inc. boosted its stake in shares of Fluence Energy by 41.0% in the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after acquiring an additional 1,605,345 shares during the period. Finally, Clarity Capital Partners LLC purchased a new stake in Fluence Energy during the 4th quarter valued at approximately $1,148,000. 53.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLNC. Bank of America reduced their target price on Fluence Energy from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group started coverage on Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.21.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the acquisition, the director now owns 65,861 shares in the company, valued at $1,107,123.41. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Fluence Energy Stock Up 5.5 %

Shares of Fluence Energy stock opened at $21.70 on Friday. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $27.80. The company has a market capitalization of $3.89 billion, a P/E ratio of -55.64, a P/E/G ratio of 0.75 and a beta of 2.54. The company has a 50 day moving average of $19.43 and a 200 day moving average of $18.78.

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.