Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. cut its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 98.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,680 shares of the company’s stock after selling 1,529,320 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Fluence Energy were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. PARK CIRCLE Co bought a new position in Fluence Energy in the 2nd quarter worth approximately $28,000. US Bancorp DE raised its stake in shares of Fluence Energy by 676.6% during the third 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 in the last quarter. GAMMA Investing LLC lifted its holdings in Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after purchasing an additional 2,146 shares during the period. Blue Trust Inc. bought a new position in Fluence Energy in the 2nd quarter valued at about $58,000. Finally, CWM LLC lifted its stake in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the period. Institutional investors own 53.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FLNC. Guggenheim raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Friday, August 9th. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Piper Sandler lifted 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. Bank of America lowered their target price on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.63.

Fluence Energy Trading Down 16.0 %

Shares of FLNC traded down $3.75 during trading hours on Tuesday, reaching $19.75. 1,205,090 shares of the stock traded hands, compared to its average volume of 2,185,121. The company has a market cap of $3.56 billion, a P/E ratio of -123.68, a price-to-earnings-growth ratio of 0.77 and a beta of 2.54. The company’s 50-day moving average price is $21.32 and its two-hundred day moving average price is $19.64. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $27.80.

Fluence Energy Company 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.