Lazard Freres Gestion S.A.S. Cuts Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Lazard Freres Gestion S.A.S. trimmed its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 98.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,680 shares of the company’s stock after selling 1,529,320 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Fluence Energy were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Nicola Wealth Management LTD. lifted its holdings in shares of Fluence Energy by 62.0% during the 3rd 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 raised its position in Fluence Energy by 391.7% in the third quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock valued at $1,340,000 after purchasing an additional 47,000 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of Fluence Energy by 124.4% during the third quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock worth $1,340,000 after purchasing an additional 32,699 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy in the third quarter worth about $5,742,000. Finally, Vanguard Group Inc. grew its stake in shares of Fluence Energy by 11.9% in the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after buying an additional 656,839 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLNC has been the topic of several recent research reports. BMO Capital Markets boosted their price target on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Truist Financial lifted their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Susquehanna upped their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird lowered their target price on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Fluence Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Trading Down 16.0 %

NASDAQ FLNC traded down $3.75 during trading hours on Tuesday, reaching $19.75. The company’s stock had a trading volume of 1,205,090 shares, compared to its average volume of 2,185,121. The business has a 50-day simple moving average of $21.32 and a 200 day simple moving average of $19.64. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $27.80. The stock has a market cap of $3.56 billion, a PE ratio of -123.68, a PEG ratio of 0.77 and a beta of 2.54.

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.