DRW Securities LLC Acquires New Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

DRW Securities LLC acquired a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 49,500 shares of the company’s stock, valued at approximately $1,124,000.

Other hedge funds also recently bought and sold shares of the company. Nicola Wealth Management LTD. grew its stake in Fluence Energy by 62.0% during the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock valued at $1,840,000 after acquiring an additional 31,000 shares in the last quarter. Credit Capital Investments LLC grew its stake in Fluence Energy by 391.7% during the third quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock valued at $1,340,000 after acquiring an additional 47,000 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in Fluence Energy by 124.4% during the third quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock valued at $1,340,000 after acquiring an additional 32,699 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Fluence Energy during the third quarter valued at approximately $5,742,000. Finally, Vanguard Group Inc. grew its stake in Fluence Energy by 11.9% during the first 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. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FLNC. Robert W. Baird cut their price target on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group began coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. Piper Sandler boosted their price target on shares of Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. Finally, Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.63.

Fluence Energy Trading Up 2.1 %

Shares of NASDAQ FLNC opened at $23.50 on Tuesday. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80. The firm has a market capitalization of $4.24 billion, a PE ratio of -121.15, a price-to-earnings-growth ratio of 0.77 and a beta of 2.54. The firm has a fifty day simple moving average of $21.29 and a two-hundred day simple moving average of $19.60.

Fluence Energy Company 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.