Picton Mahoney Asset Management Takes $109,000 Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Picton Mahoney Asset Management bought a new stake in Fluence Energy, Inc. (NASDAQ:FLNC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,270 shares of the company’s stock, valued at approximately $109,000.

A number of other hedge funds have also modified their holdings of the business. ProShare Advisors LLC raised its position in shares of Fluence Energy by 8.5% in the first quarter. ProShare Advisors LLC now owns 10,539 shares of the company’s stock valued at $183,000 after buying an additional 830 shares during the last quarter. Renaissance Capital LLC grew its holdings in shares of Fluence Energy by 3.0% in the first quarter. Renaissance Capital LLC now owns 38,243 shares of the company’s stock valued at $663,000 after purchasing an additional 1,111 shares during the period. National Bank of Canada FI grew its holdings in shares of Fluence Energy by 116.3% in the fourth quarter. National Bank of Canada FI now owns 2,595 shares of the company’s stock valued at $62,000 after purchasing an additional 1,395 shares during the period. Quarry LP purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $38,000. Finally, Comerica Bank grew its holdings in shares of Fluence Energy by 79.1% in the first quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $73,000 after purchasing an additional 1,860 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FLNC shares. Royal Bank of Canada raised shares of Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. Barclays dropped their price objective on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Scotiabank raised shares of Fluence Energy to a “hold” rating in a report on Friday, July 12th. Evercore ISI dropped their price objective on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Finally, Susquehanna lowered their target price on shares of Fluence Energy from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.67.

Insider Activity at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the acquisition, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $18.37 on Monday. The firm has a 50 day simple moving average of $16.97 and a 200-day simple moving average of $17.70. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $28.14. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -47.10, a PEG ratio of 3.15 and a beta of 2.50.

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.