252,824 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 252,824 shares of the company’s stock, valued at approximately $5,742,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLNC. PARK CIRCLE Co acquired a new position in shares of Fluence Energy during the 2nd quarter worth about $28,000. US Bancorp DE boosted its position in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the period. GAMMA Investing LLC grew its stake in shares of Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after acquiring an additional 2,146 shares during the last quarter. Blue Trust Inc. bought a new position in Fluence Energy during the second quarter worth $58,000. Finally, CWM LLC raised its stake in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Trading Up 3.9 %

Shares of Fluence Energy stock opened at $21.91 on Thursday. The stock’s fifty day simple moving average is $21.26 and its 200 day simple moving average is $19.58. The company has a market capitalization of $3.95 billion, a PE ratio of -113.21, a PEG ratio of 0.68 and a beta of 2.54. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a report on Friday, November 8th. Truist Financial upped their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird decreased their price target 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, Jefferies Financial Group initiated coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective for the company. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

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.