Point72 Europe London LLP Acquires New Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

Point72 Europe London LLP bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 168,000 shares of the company’s stock, valued at approximately $2,913,000. Point72 Europe London LLP owned approximately 0.09% of Fluence Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. bought a new position in shares of Fluence Energy in the first quarter worth approximately $3,247,000. SG Americas Securities LLC purchased a new stake in shares of Fluence Energy during the 1st quarter valued at $4,082,000. Norges Bank purchased a new stake in shares of Fluence Energy during the 4th quarter valued at $13,931,000. Quadrature Capital Ltd purchased a new position in Fluence Energy in the fourth quarter worth $1,136,000. Finally, Vanguard Group Inc. grew its position in 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 in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

FLNC opened at $22.36 on Wednesday. The stock’s 50 day moving average price is $17.95 and its 200-day moving average price is $18.21. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $27.80.

Insider Buying and Selling 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 acquired at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the acquisition, the director now owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Scotiabank raised Fluence Energy to a “hold” rating in a research note on Friday, July 12th. Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, August 9th. Barclays reduced their price target on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research 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 report on Tuesday, July 16th. Finally, Bank of America reduced 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Fluence Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

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.