Moors & Cabot Inc. Takes Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Moors & Cabot Inc. bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,800 shares of the company’s stock, valued at approximately $404,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. increased its stake in shares of Fluence Energy by 62.0% in the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock worth $1,840,000 after acquiring an additional 31,000 shares during the period. Credit Capital Investments LLC grew its position in Fluence Energy by 391.7% during the 3rd quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock worth $1,340,000 after purchasing an additional 47,000 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Fluence Energy during the 3rd quarter valued at about $5,742,000. Banque Cantonale Vaudoise boosted its stake in shares of Fluence Energy by 124.4% in the third quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock worth $1,340,000 after buying an additional 32,699 shares during the last quarter. Finally, 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. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Up 8.7 %

Shares of FLNC opened at $23.02 on Friday. The stock has a fifty day simple moving average of $21.29 and a two-hundred day simple moving average of $19.62. The company has a market capitalization of $4.15 billion, a PE ratio of -121.15, a price-to-earnings-growth ratio of 0.71 and a beta of 2.54. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $27.80.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Truist Financial upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upgraded shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Jefferies Financial Group began coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, August 9th. Finally, Piper Sandler increased their price target on Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.