Fluence Energy, Inc. $FLNC Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 334.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,499 shares of the company’s stock after purchasing an additional 46,586 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Fluence Energy were worth $406,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Fluence Energy by 10.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,967 shares of the company’s stock worth $194,000 after acquiring an additional 2,669 shares during the period. Vident Advisory LLC grew its holdings in shares of Fluence Energy by 19.8% during the first quarter. Vident Advisory LLC now owns 16,694 shares of the company’s stock worth $81,000 after purchasing an additional 2,764 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Fluence Energy by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,559 shares of the company’s stock valued at $575,000 after acquiring an additional 3,364 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Fluence Energy by 7.0% in the first quarter. Moors & Cabot Inc. now owns 56,250 shares of the company’s stock valued at $273,000 after purchasing an additional 3,675 shares in the last quarter. Finally, Parallel Advisors LLC bought a new stake in shares of Fluence Energy during the second quarter worth $30,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $17.91 on Friday. The stock has a market cap of $3.27 billion, a PE ratio of -85.29 and a beta of 2.88. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.64. The firm’s fifty day moving average price is $14.79 and its two-hundred day moving average price is $9.49. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $24.00.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Fluence Energy in a research note on Friday, October 31st. UBS Group upped their price target on shares of Fluence Energy from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, August 27th. The Goldman Sachs Group increased their price objective on Fluence Energy from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Fluence Energy from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Finally, BNP Paribas Exane reissued an “underperform” rating and issued a $9.00 price objective on shares of Fluence Energy in a report on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $9.48.

Fluence Energy 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.