Prospera Financial Services Inc Sells 1,357 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Prospera Financial Services Inc lessened its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 3.7% during the third quarter, Holdings Channel.com reports. The fund owned 35,098 shares of the company’s stock after selling 1,357 shares during the period. Prospera Financial Services Inc’s holdings in Fluence Energy were worth $797,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its holdings in shares of Fluence Energy by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after purchasing an additional 2,047,063 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Fluence Energy by 11.9% during the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after acquiring an additional 656,839 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in shares of Fluence Energy during the 2nd quarter valued at $26,877,000. Clearbridge Investments LLC boosted its holdings in shares of Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after acquiring an additional 23,927 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Fluence Energy by 1,355.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after acquiring an additional 953,761 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $23.02 on Friday. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $27.80. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of -121.15, a PEG ratio of 0.70 and a beta of 2.54. The business has a 50-day simple moving average of $21.27 and a 200 day simple moving average of $19.60.

Analyst Ratings Changes

FLNC has been the topic of several recent research reports. Susquehanna raised their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. Truist Financial lifted their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Piper Sandler lifted their target price on Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Bank of America cut their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Fluence Energy currently has an average rating of “Moderate Buy” and an average target price 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.