Fluence Energy, Inc. (NASDAQ:FLNC) Shares Purchased by Credit Capital Investments LLC

Credit Capital Investments LLC boosted its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 391.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,000 shares of the company’s stock after purchasing an additional 47,000 shares during the period. Fluence Energy makes up about 1.7% of Credit Capital Investments LLC’s portfolio, making the stock its 15th largest holding. Credit Capital Investments LLC’s holdings in Fluence Energy were worth $1,340,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its stake in Fluence Energy by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company’s stock valued at $183,000 after purchasing an additional 830 shares during the period. Hsbc Holdings PLC raised its stake in Fluence Energy by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after purchasing an additional 897 shares during the period. US Bancorp DE raised its stake in Fluence Energy by 676.6% during the 3rd 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. raised its stake in Fluence Energy by 45.3% during the 3rd 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. Finally, PARK CIRCLE Co acquired a new stake in Fluence Energy during the 2nd quarter valued at $28,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Price Performance

Shares of NASDAQ FLNC traded up $0.80 during mid-day trading on Wednesday, hitting $21.25. The company had a trading volume of 204,126 shares, compared to its average volume of 2,187,402. The business’s 50-day simple moving average is $21.12 and its 200-day simple moving average is $19.53. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80. The firm has a market cap of $3.84 billion, a P/E ratio of -107.63, a PEG ratio of 0.76 and a beta of 2.54.

Analysts Set New Price Targets

FLNC has been the topic of several recent analyst reports. Barclays cut their target price on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets upped their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler upped their price target on shares of Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. Finally, BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and an average target price of $26.63.

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.