Banque Cantonale Vaudoise Buys 32,699 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Banque Cantonale Vaudoise lifted its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 124.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,979 shares of the company’s stock after purchasing an additional 32,699 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Fluence Energy were worth $1,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. ProShare Advisors LLC lifted its position in Fluence Energy by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company’s stock valued at $183,000 after acquiring an additional 830 shares in the last quarter. Vanguard Group Inc. lifted its position in Fluence Energy by 11.9% in the 1st 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. Price T Rowe Associates Inc. MD lifted its position in Fluence Energy by 10.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,689 shares of the company’s stock valued at $394,000 after acquiring an additional 2,081 shares in the last quarter. Comerica Bank lifted its position in Fluence Energy by 79.1% in the 1st quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $73,000 after acquiring an additional 1,860 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position 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. Institutional investors own 53.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on FLNC. Robert W. Baird dropped their target price on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a report on Friday, November 8th. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. Finally, Barclays decreased their price objective on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $21.91 on Thursday. The company has a market cap of $3.95 billion, a P/E ratio of -115.32, a P/E/G ratio of 0.68 and a beta of 2.54. The firm’s fifty day moving average is $21.26 and its two-hundred day moving average is $19.58. 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.