KBC Group NV Buys 73,278 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

KBC Group NV lifted its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 219.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 106,625 shares of the company’s stock after acquiring an additional 73,278 shares during the period. KBC Group NV owned approximately 0.06% of Fluence Energy worth $2,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLNC. Handelsbanken Fonder AB raised its stake in shares of Fluence Energy by 47.3% during the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after acquiring an additional 2,047,063 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in Fluence Energy during the second quarter valued at about $26,877,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fluence Energy by 1,355.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after buying an additional 953,761 shares during the period. Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 11.9% in the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock worth $107,130,000 after buying an additional 656,839 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Fluence Energy during the 3rd quarter worth approximately $5,742,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Stock Performance

FLNC stock opened at $19.64 on Tuesday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -103.36, a P/E/G ratio of 0.68 and a beta of 2.54. The business’s 50-day moving average is $21.20 and its two-hundred day moving average is $19.58. Fluence Energy, Inc. has a fifty-two week low of $12.74 and a fifty-two week high of $27.80.

Analyst Ratings Changes

A number of research analysts have commented on FLNC shares. Robert W. Baird lowered their price target on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Citigroup lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Guggenheim raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Friday, August 9th. Truist Financial lifted their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.