Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 28.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,865 shares of the company’s stock after purchasing an additional 4,190 shares during the period. HighTower Advisors LLC’s holdings in Fluence Energy were worth $428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in Fluence Energy by 3.8% in the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after acquiring an additional 897 shares in the last quarter. US Bancorp DE increased its stake in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares in the last quarter. PARK CIRCLE Co acquired a new position in shares of Fluence Energy during the 2nd quarter worth about $28,000. Finally, CWM LLC lifted its stake in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FLNC has been the subject of several research reports. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets lifted their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Guggenheim reiterated a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a research report on Friday, December 6th. Bank of America lowered their price target on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Stock Up 1.4 %

Shares of NASDAQ FLNC opened at $15.21 on Friday. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $26.12. The stock has a market capitalization of $2.75 billion, a P/E ratio of 117.00, a PEG ratio of 0.54 and a beta of 2.39. The stock’s 50 day moving average price is $19.64 and its two-hundred day moving average price is $19.16.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. On average, analysts anticipate that Fluence Energy, Inc. will post 0.56 EPS for the current year.

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.