Thompson Siegel & Walmsley LLC Sells 6,299 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Thompson Siegel & Walmsley LLC reduced its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,521 shares of the company’s stock after selling 6,299 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.12% of Fluence Energy worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLNC. Handelsbanken Fonder AB lifted its holdings in Fluence Energy by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after purchasing an additional 2,047,063 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 last quarter. Lazard Freres Gestion S.A.S. purchased a new position in Fluence Energy during the second quarter valued at $26,877,000. Clearbridge Investments LLC increased its holdings in Fluence Energy by 1.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after acquiring an additional 23,927 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Fluence Energy by 1,355.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after purchasing an additional 953,761 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. BMO Capital Markets raised their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Piper Sandler boosted their target price on shares of Fluence Energy from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays dropped their price target on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Stock Down 3.3 %

FLNC opened at $21.18 on Friday. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $27.80. The company has a market capitalization of $3.82 billion, a P/E ratio of -111.47, a PEG ratio of 0.70 and a beta of 2.54. The stock’s fifty day moving average is $21.28 and its two-hundred day moving average is $19.59.

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.