Quest Partners LLC Raises Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Quest Partners LLC increased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 337.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,095 shares of the company’s stock after purchasing an additional 21,672 shares during the period. Quest Partners LLC’s holdings in Fluence Energy were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its position in Fluence Energy by 47.3% during the 3rd 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 during the period. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 656,839 shares during the period. Lazard Freres Gestion S.A.S. acquired a new stake in Fluence Energy in the second quarter valued at $26,877,000. Clearbridge Investments LLC lifted its holdings in Fluence Energy by 1.6% in the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after acquiring an additional 23,927 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Fluence Energy by 1,355.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock worth $17,758,000 after purchasing an additional 953,761 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Wall Street Analyst Weigh In

FLNC has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Barclays reduced their price target on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Bank of America dropped their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Finally, Truist Financial raised their price target on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of “Moderate Buy” and an average target price of $26.63.

Fluence Energy Trading Up 8.7 %

Fluence Energy stock opened at $23.02 on Friday. The stock has a fifty day moving average price of $21.27 and a 200 day moving average price of $19.60. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $27.80. The firm has a market capitalization of $4.15 billion, a P/E ratio of -119.52, a PEG ratio of 0.70 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.