Nicola Wealth Management LTD. Has $1.84 Million Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Nicola Wealth Management LTD. increased its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 62.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,000 shares of the company’s stock after buying an additional 31,000 shares during the quarter. Nicola Wealth Management LTD.’s holdings in Fluence Energy were worth $1,840,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of recent analyst reports. Royal Bank of Canada upgraded Fluence Energy to a “moderate buy” rating in a report on Friday, August 9th. Piper Sandler boosted their target price 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. Barclays dropped their price target on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Guggenheim upgraded shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Friday, August 9th. Finally, BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.63.

Fluence Energy Stock Performance

NASDAQ:FLNC traded down $0.27 during midday trading on Thursday, reaching $19.95. 254,424 shares of the stock traded hands, compared to its average volume of 2,183,686. The stock has a market capitalization of $3.60 billion, a P/E ratio of -106.42, a PEG ratio of 0.72 and a beta of 2.54. The company has a fifty day moving average of $21.15 and a 200 day moving average of $19.53. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80.

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.