Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. cut its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 29.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,234 shares of the company’s stock after selling 31,849 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Fluence Energy were worth $1,322,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FLNC. PARK CIRCLE Co acquired a new position in shares of Fluence Energy in the second quarter valued at about $28,000. Pflug Koory LLC acquired a new position in Fluence Energy in the 1st quarter worth approximately $35,000. Quarry LP purchased a new position in Fluence Energy during the 4th quarter worth approximately $38,000. Baillie Gifford & Co. acquired a new stake in Fluence Energy during the 1st quarter valued at approximately $38,000. Finally, GAMMA Investing LLC raised its holdings 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 during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Trading Up 1.0 %

NASDAQ:FLNC opened at $21.56 on Monday. The stock’s 50 day simple moving average is $17.75 and its 200-day simple moving average is $18.12. Fluence Energy, Inc. has a 12-month low of $12.74 and a 12-month high of $27.80. The firm has a market cap of $3.87 billion, a P/E ratio of -55.28, a PEG ratio of 3.99 and a beta of 2.51.

Wall Street Analyst Weigh In

Several analysts recently commented on FLNC shares. Truist Financial assumed coverage on Fluence Energy in a report on Wednesday, July 10th. They set a “buy” rating and a $25.00 target price on the stock. Robert W. Baird decreased their target price on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Scotiabank raised shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Friday, August 9th. Finally, 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 research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.63.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by corporate 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.