Nicola Wealth Management LTD. Raises Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Nicola Wealth Management LTD. boosted its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 62.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,000 shares of the company’s stock after purchasing an additional 31,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Fluence Energy were worth $1,840,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Aubrey Capital Management Ltd acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at approximately $309,000. KBC Group NV grew its position in shares of Fluence Energy by 219.7% during the 3rd quarter. KBC Group NV now owns 106,625 shares of the company’s stock valued at $2,421,000 after buying an additional 73,278 shares during the last quarter. Credit Capital Investments LLC raised its stake in Fluence Energy by 391.7% during the third quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock worth $1,340,000 after acquiring an additional 47,000 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Fluence Energy in the third quarter valued at approximately $471,000. Finally, Victory Capital Management Inc. bought a new position in Fluence Energy during the 3rd quarter worth $212,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Trading Down 1.3 %

Shares of FLNC stock traded down $0.27 on Thursday, hitting $19.95. The stock had a trading volume of 254,424 shares, compared to its average volume of 2,183,686. Fluence Energy, Inc. has a twelve month low of $12.74 and a twelve month high of $27.80. The firm has a market cap of $3.60 billion, a P/E ratio of -106.42, a PEG ratio of 0.72 and a beta of 2.54. The company has a fifty day moving average price of $21.15 and a two-hundred day moving average price of $19.53.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Susquehanna lifted their price target on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. 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. Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, August 9th. Finally, Royal Bank of Canada raised Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Five equities research 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 has an average rating of “Moderate Buy” and a consensus target price of $26.63.

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.