Interval Partners LP Buys New Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Interval Partners LP bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 35,701 shares of the company’s stock, valued at approximately $619,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Fluence Energy by 11.9% in the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after acquiring an additional 656,839 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Fluence Energy by 21.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock worth $75,086,000 after acquiring an additional 757,105 shares during the period. Lazard Freres Gestion S.A.S. bought a new position in Fluence Energy during the second quarter worth $26,877,000. Clearbridge Investments LLC increased its holdings in Fluence Energy by 3.7% in the 1st quarter. Clearbridge Investments LLC now owns 1,476,914 shares of the company’s stock valued at $25,610,000 after buying an additional 52,744 shares during the period. Finally, Clean Energy Transition LLP bought a new stake in Fluence Energy in the 4th quarter valued at $32,124,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLNC has been the topic of several analyst reports. Susquehanna lowered their target price on shares of Fluence Energy from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Piper Sandler cut their target price 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. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a report on Friday, August 9th. Scotiabank raised shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th. Finally, Jefferies Financial Group initiated coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.63.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $16.81 per share, with a total value of $168,100.00. Following the acquisition, the director now owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.41% of the stock is owned by insiders.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $22.36 on Wednesday. The company has a market cap of $4.01 billion, a P/E ratio of -57.33, a PEG ratio of 3.99 and a beta of 2.51. The stock has a 50 day simple moving average of $17.95 and a two-hundred day simple moving average of $18.21. Fluence Energy, Inc. has a fifty-two week low of $12.74 and a fifty-two week high of $27.80.

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.