Harel Insurance Investments & Financial Services Ltd. Buys Shares of 10,639 Fluence Energy, Inc. (NASDAQ:FLNC)

Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Fluence Energy, Inc. (NASDAQ:FLNC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,639 shares of the company’s stock, valued at approximately $184,000.

Other large investors have also made changes to their positions in the company. Swiss National Bank lifted its holdings in Fluence Energy by 37.7% in the 4th quarter. Swiss National Bank now owns 123,900 shares of the company’s stock worth $2,955,000 after purchasing an additional 33,900 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Fluence Energy in the first quarter valued at approximately $3,247,000. SG Americas Securities LLC bought a new stake in shares of Fluence Energy in the first quarter valued at approximately $4,082,000. Norges Bank bought a new position in Fluence Energy in the fourth quarter worth $13,931,000. Finally, Quadrature Capital Ltd bought a new position in Fluence Energy in the fourth quarter worth $1,136,000. Institutional investors own 53.16% of the company’s stock.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $16.81 per share, for a total transaction of $168,100.00. Following the transaction, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FLNC. Scotiabank raised Fluence Energy to a “hold” rating in a research report on Friday, July 12th. Evercore ISI lowered their price objective on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Susquehanna lowered their price objective on Fluence Energy from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Friday, August 9th. Piper Sandler lowered their price objective on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, Barclays lowered their price objective on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Fluence Energy Stock Down 1.9 %

Shares of NASDAQ:FLNC traded down $0.35 during trading on Tuesday, reaching $17.66. 552,304 shares of the company traded hands, compared to its average volume of 2,412,176. The company’s 50 day moving average is $17.41 and its two-hundred day moving average is $17.84. The firm has a market capitalization of $3.17 billion, a PE ratio of -46.18 and a beta of 2.50. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $28.14.

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.