Victory Capital Management Inc. Invests $212,000 in Fluence Energy, Inc. (NASDAQ:FLNC)

Victory Capital Management Inc. acquired a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the 3rd quarter, Holdings Channel reports. The fund acquired 9,352 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hsbc Holdings PLC lifted its stake in shares of Fluence Energy by 3.8% during the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after buying an additional 897 shares during the period. US Bancorp DE lifted its position in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the period. Blue Trust Inc. lifted its position in Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after purchasing an additional 1,502 shares during the period. PARK CIRCLE Co acquired a new position in Fluence Energy during the second quarter valued at $28,000. Finally, CWM LLC lifted its position in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Price Performance

NASDAQ FLNC opened at $18.81 on Friday. The firm’s fifty day moving average price is $21.08 and its 200 day moving average price is $19.65. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 144.69, a price-to-earnings-growth ratio of 0.62 and a beta of 2.54. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80.

Analyst Ratings Changes

A number of research analysts recently issued reports on FLNC shares. Piper Sandler boosted their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday. Canaccord Genuity Group decreased their target price on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets boosted 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. Royal Bank of Canada cut their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, 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. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.85.

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.