Credit Capital Investments LLC Has $1.34 Million Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Credit Capital Investments LLC increased its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 391.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,000 shares of the company’s stock after purchasing an additional 47,000 shares during the period. Fluence Energy makes up 1.7% of Credit Capital Investments LLC’s portfolio, making the stock its 15th biggest position. Credit Capital Investments LLC’s holdings in Fluence Energy were worth $1,340,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FLNC. Handelsbanken Fonder AB raised its position in Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after purchasing an additional 2,047,063 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new stake in shares of Fluence Energy during the second quarter worth approximately $26,877,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Fluence Energy by 1,355.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock worth $17,758,000 after buying an additional 953,761 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 11.9% during the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after buying an additional 656,839 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy during the third quarter worth approximately $5,742,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Up 3.9 %

Fluence Energy stock traded up $0.80 during mid-day trading on Wednesday, hitting $21.25. 204,126 shares of the company’s stock were exchanged, compared to its average volume of 2,187,402. The firm has a market capitalization of $3.84 billion, a P/E ratio of -107.63, a PEG ratio of 0.76 and a beta of 2.54. Fluence Energy, Inc. has a fifty-two week low of $12.74 and a fifty-two week high of $27.80. The company’s 50 day simple moving average is $21.12 and its 200-day simple moving average is $19.53.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FLNC. Susquehanna raised their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Bank of America decreased their price target on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Truist Financial lifted their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, BMO Capital Markets upped their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.63.

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.