Fluence Energy, Inc. (NASDAQ:FLNC) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 19.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,380 shares of the company’s stock after purchasing an additional 14,992 shares during the period. Rhumbline Advisers’ holdings in Fluence Energy were worth $1,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. acquired a new stake in shares of Fluence Energy during the first quarter worth $3,247,000. SG Americas Securities LLC purchased a new position in Fluence Energy in the 1st quarter worth $4,082,000. Norges Bank acquired a new stake in Fluence Energy during the 4th quarter worth about $13,931,000. Quadrature Capital Ltd acquired a new stake in Fluence Energy during the 4th quarter worth about $1,136,000. Finally, Vanguard Group Inc. grew its stake in Fluence Energy by 41.0% during the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock valued at $131,685,000 after purchasing an additional 1,605,345 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

Shares of FLNC stock opened at $21.56 on Friday. Fluence Energy, Inc. has a 1-year low of $12.74 and a 1-year high of $27.80. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -55.28, a PEG ratio of 3.99 and a beta of 2.51. The stock has a 50 day simple moving average of $17.75 and a 200-day simple moving average of $18.07.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the transaction, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FLNC. Scotiabank raised Fluence Energy to a “hold” rating in a report on Friday, July 12th. 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. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their target price 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, Robert W. Baird lowered their price target on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and an average 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.