Barclays PLC Increases Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Barclays PLC grew its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 296.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 181,766 shares of the company’s stock after buying an additional 135,957 shares during the quarter. Barclays PLC owned 0.10% of Fluence Energy worth $4,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Handelsbanken Fonder AB lifted its holdings in Fluence Energy by 47.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after buying an additional 2,047,063 shares in the last quarter. FMR LLC raised its stake in shares of Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in shares of Fluence Energy in the second quarter valued at approximately $26,877,000. Clearbridge Investments LLC boosted its holdings in shares of 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 purchasing an additional 23,927 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in 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 during the period. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Guggenheim reiterated a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. Piper Sandler increased their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Susquehanna increased their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lowered their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Price Performance

Shares of FLNC stock opened at $15.21 on Monday. The business has a fifty day moving average of $19.64 and a 200 day moving average of $19.12. Fluence Energy, Inc. has a 1 year low of $12.74 and a 1 year high of $26.12. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 117.00, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period last year, the business posted $0.02 earnings per share. As a group, equities research analysts expect that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

About Fluence Energy

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.