Encompass Capital Advisors LLC Sells 945,220 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Encompass Capital Advisors LLC decreased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 33.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,908,795 shares of the company’s stock after selling 945,220 shares during the period. Fluence Energy accounts for about 1.7% of Encompass Capital Advisors LLC’s holdings, making the stock its 22nd largest holding. Encompass Capital Advisors LLC owned about 1.06% of Fluence Energy worth $33,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. PARK CIRCLE Co bought a new position in shares of Fluence Energy during the second quarter valued at approximately $28,000. Pflug Koory LLC bought a new position in Fluence Energy in the 1st quarter worth $35,000. Quarry LP purchased a new stake in shares of Fluence Energy in the 4th quarter worth about $38,000. Baillie Gifford & Co. bought a new stake in shares of Fluence Energy during the 1st quarter valued at about $38,000. Finally, GAMMA Investing LLC increased 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 valued at $51,000 after buying an additional 2,146 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on FLNC shares. Robert W. Baird lowered their price objective on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Bank of America decreased their price objective on Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Piper Sandler reduced their target price on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Price Performance

FLNC stock opened at $21.62 on Thursday. The stock has a market capitalization of $3.88 billion, a P/E ratio of -55.44, a P/E/G ratio of 7.24 and a beta of 2.51. Fluence Energy, Inc. has a 1-year low of $12.74 and a 1-year high of $27.80. The business has a fifty day moving average price of $18.05 and a 200-day moving average price of $18.24.

Insider Buying and Selling

In related news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the purchase, the director now owns 65,861 shares of the company’s stock, valued at $1,107,123.41. The transaction was disclosed in a document filed with the SEC, 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.