962,772 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 962,772 shares of the company’s stock, valued at approximately $22,059,000. Erste Asset Management GmbH owned about 0.53% of Fluence Energy at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. PARK CIRCLE Co acquired a new stake in Fluence Energy during the 2nd quarter worth approximately $28,000. US Bancorp DE raised its holdings in Fluence Energy by 676.6% in the 3rd 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 in the last quarter. GAMMA Investing LLC raised its holdings in Fluence Energy by 264.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after acquiring an additional 2,146 shares in the last quarter. Blue Trust Inc. acquired a new position in Fluence Energy in the 2nd quarter valued at $58,000. Finally, CWM LLC raised its holdings 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 acquiring an additional 1,767 shares in the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

FLNC stock opened at $18.81 on Friday. Fluence Energy, Inc. has a fifty-two week low of $12.74 and a fifty-two week high of $27.80. The company has a market cap of $3.40 billion, a P/E ratio of 144.69, a price-to-earnings-growth ratio of 0.64 and a beta of 2.54. The stock’s 50 day simple moving average is $21.08 and its 200 day simple moving average is $19.65.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FLNC. Susquehanna lifted 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. Bank of America dropped their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group dropped their price objective on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group assumed coverage on Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, Piper Sandler lifted their price target on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and an average price target of $26.85.

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.