KBC Group NV Acquires 73,278 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

KBC Group NV increased its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 219.7% during the third quarter, Holdings Channel.com reports. The firm owned 106,625 shares of the company’s stock after purchasing an additional 73,278 shares during the quarter. KBC Group NV’s holdings in Fluence Energy were worth $2,421,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BMO Capital Markets upped their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. 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 research note on Friday, August 9th. Susquehanna increased their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Jefferies Financial Group initiated coverage on Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Barclays cut their price target on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.63.

Fluence Energy Price Performance

Fluence Energy stock opened at $19.64 on Tuesday. The stock has a market capitalization of $3.54 billion, a PE ratio of -103.36, a price-to-earnings-growth ratio of 0.68 and a beta of 2.54. The business has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $19.58. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80.

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.