Granite Bay Wealth Management LLC Makes New $209,000 Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Granite Bay Wealth Management LLC bought a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the second quarter, HoldingsChannel reports. The firm bought 10,925 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PARK CIRCLE Co purchased a new position in Fluence Energy during the 2nd quarter valued at about $28,000. Pflug Koory LLC purchased a new position in shares of Fluence Energy during the first quarter valued at approximately $35,000. Baillie Gifford & Co. bought a new stake in shares of Fluence Energy in the 1st quarter worth approximately $38,000. Quarry LP purchased a new stake in shares of Fluence Energy in the 4th quarter worth approximately $38,000. Finally, GAMMA Investing LLC increased its position in Fluence Energy by 264.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after buying an additional 2,146 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $21.57 on Wednesday. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $27.80. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -55.31, a PEG ratio of 7.24 and a beta of 2.51. The stock’s 50-day simple moving average is $18.43 and its two-hundred day simple moving average is $18.43.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FLNC shares. JPMorgan Chase & Co. increased their target price on Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Truist Financial began coverage on shares of Fluence Energy in a research report on Wednesday, July 10th. They set a “buy” rating and a $25.00 price objective on the stock. Piper Sandler reduced their price objective on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Robert W. Baird dropped their target price on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Susquehanna reduced their price target on shares of Fluence Energy from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.21.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the transaction, the director now owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

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.