Handelsbanken Fonder AB Purchases 2,047,063 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Handelsbanken Fonder AB grew its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 47.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,376,024 shares of the company’s stock after purchasing an additional 2,047,063 shares during the quarter. Fluence Energy makes up about 0.6% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 24th largest holding. Handelsbanken Fonder AB’s holdings in Fluence Energy were worth $144,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Fluence Energy during the 4th quarter valued at $38,000. PARK CIRCLE Co bought a new stake in Fluence Energy during the second quarter valued at about $28,000. Pflug Koory LLC purchased a new position in shares of Fluence Energy in the first quarter valued at about $35,000. Baillie Gifford & Co. bought a new position in shares of Fluence Energy in the first quarter worth about $38,000. Finally, GAMMA Investing LLC grew its position in shares of Fluence Energy by 264.9% during the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after purchasing 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 Up 1.9 %

FLNC traded up $0.42 during trading hours on Friday, reaching $21.99. 1,493,491 shares of the company’s stock traded hands, compared to its average volume of 2,291,801. The firm has a 50-day moving average price of $18.89 and a 200 day moving average price of $18.58. The firm has a market capitalization of $3.94 billion, a PE ratio of -56.38, a PEG ratio of 7.24 and a beta of 2.54. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $27.80.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FLNC. Scotiabank raised Fluence Energy to a “hold” rating in a report on Friday, July 12th. Jefferies Financial Group started coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price for the company. Truist Financial initiated coverage on shares of Fluence Energy in a report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price target on the stock. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $24.00 in a report on Tuesday. Finally, Barclays reduced their target price on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.21.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the purchase, the director now directly owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Fluence Energy 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.