SCP Investment LP Has $836,000 Position in Fluence Energy, Inc. (NASDAQ:FLNC)

SCP Investment LP boosted its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 76.9% in the third quarter, HoldingsChannel reports. The firm owned 36,800 shares of the company’s stock after buying an additional 16,000 shares during the period. Fluence Energy makes up about 0.6% of SCP Investment LP’s portfolio, making the stock its 18th largest position. SCP Investment LP’s holdings in Fluence Energy were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PARK CIRCLE Co acquired a new position in Fluence Energy during the 2nd quarter worth approximately $28,000. US Bancorp DE lifted its holdings in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares in the last quarter. GAMMA Investing LLC grew its position in Fluence Energy by 264.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after purchasing an additional 2,146 shares during the period. Blue Trust Inc. bought a new stake in Fluence Energy during the 2nd quarter valued at $58,000. Finally, CWM LLC increased its holdings in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares in the last quarter. 53.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FLNC has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets lifted their price target on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Susquehanna upped their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Friday, August 9th. Finally, Piper Sandler increased their price target on shares of Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Fluence Energy currently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

Fluence Energy Price Performance

NASDAQ FLNC opened at $21.09 on Wednesday. The company’s 50 day simple moving average is $21.22 and its two-hundred day simple moving average is $19.58. The stock has a market capitalization of $3.81 billion, a PE ratio of -111.00, a P/E/G ratio of 0.68 and a beta of 2.54. Fluence Energy, Inc. has a 1 year low of $12.74 and a 1 year 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.