L & S Advisors Inc Buys 16,014 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

L & S Advisors Inc raised its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 30.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 68,350 shares of the company’s stock after acquiring an additional 16,014 shares during the period. L & S Advisors Inc’s holdings in Fluence Energy were worth $1,185,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FLNC. Dimensional Fund Advisors LP raised its holdings in shares of Fluence Energy by 40.7% in the second quarter. Dimensional Fund Advisors LP now owns 735,183 shares of the company’s stock valued at $12,755,000 after purchasing an additional 212,654 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in Fluence Energy during the second quarter worth about $3,916,000. Federated Hermes Inc. grew its position in Fluence Energy by 9.6% in the 2nd quarter. Federated Hermes Inc. now owns 21,069 shares of the company’s stock worth $365,000 after purchasing an additional 1,851 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Fluence Energy by 32.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 510,056 shares of the company’s stock valued at $8,844,000 after buying an additional 124,896 shares during the last quarter. Finally, Wellington Shields & Co. LLC bought a new position in shares of Fluence Energy during the 2nd quarter worth approximately $217,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FLNC shares. Susquehanna reduced their target price on Fluence Energy from $24.00 to $23.00 and set a “positive” rating for the company in a report on Friday, August 9th. Guggenheim upgraded 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. Bank of America decreased their target price on Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Piper Sandler cut their price target on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Robert W. Baird decreased their price objective on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $16.81 per share, with a total value of $168,100.00. Following the completion of the acquisition, the director now owns 65,861 shares in the company, valued at approximately $1,107,123.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.41% of the company’s stock.

Fluence Energy Stock Performance

NASDAQ:FLNC opened at $21.95 on Wednesday. The business’s fifty day moving average is $17.54 and its 200 day moving average is $17.98. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -56.28, a PEG ratio of 3.99 and a beta of 2.51. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week 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.