DRW Securities LLC Invests $1.12 Million in Fluence Energy, Inc. (NASDAQ:FLNC)

DRW Securities LLC bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC) during the third quarter, Holdings Channel reports. The fund bought 49,500 shares of the company’s stock, valued at approximately $1,124,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Fluence Energy by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 501,940 shares of the company’s stock worth $11,399,000 after buying an additional 25,143 shares during the period. Intech Investment Management LLC purchased a new stake in Fluence Energy during the 3rd quarter valued at about $309,000. Moors & Cabot Inc. purchased a new stake in Fluence Energy during the 3rd quarter valued at about $404,000. EagleClaw Capital Managment LLC grew its position in Fluence Energy by 62.0% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 195,175 shares of the company’s stock valued at $4,432,000 after purchasing an additional 74,700 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Fluence Energy by 39.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 35,948 shares of the company’s stock valued at $816,000 after purchasing an additional 10,144 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Trading Up 2.1 %

NASDAQ FLNC opened at $23.50 on Tuesday. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80. The company’s 50 day moving average is $21.29 and its two-hundred day moving average is $19.60. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of -121.15, a PEG ratio of 0.77 and a beta of 2.54.

Analyst Ratings Changes

FLNC has been the topic of several recent analyst reports. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research report on Friday, November 8th. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. Susquehanna raised their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Finally, Piper Sandler raised their price target on shares of Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and an average price target 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.