Vanguard Group Inc. Boosts Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Vanguard Group Inc. increased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 1.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,252,320 shares of the company’s stock after acquiring an additional 110,256 shares during the period. Vanguard Group Inc.’s holdings in Fluence Energy were worth $99,287,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FLNC. Sanders Morris Harris LLC purchased a new position in Fluence Energy during the fourth quarter valued at $812,000. Cidel Asset Management Inc. purchased a new position in Fluence Energy in the 4th quarter valued at about $350,000. SG Americas Securities LLC boosted its holdings in Fluence Energy by 79.2% in the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after buying an additional 21,597 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in Fluence Energy during the 4th quarter worth approximately $1,429,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Fluence Energy during the third quarter valued at approximately $5,742,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the purchase, the director now owns 115,861 shares in the company, valued at $626,808.01. This trade represents a 9.45 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ahmed Pasha bought 15,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the purchase, the chief financial officer now owns 24,703 shares in the company, valued at $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 79,000 shares of company stock worth $499,665 in the last three months. 0.65% of the stock is owned by company insiders.

Analyst Ratings Changes

FLNC has been the subject of several research reports. Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and dropped their price target for the stock from $26.00 to $6.00 in a research report on Tuesday, February 11th. Susquehanna dropped their target price on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a report on Wednesday, February 12th. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. Barclays reaffirmed an “equal weight” rating and set a $5.00 price objective (down previously from $9.00) on shares of Fluence Energy in a research note on Tuesday. Finally, Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.79.

Fluence Energy Price Performance

Fluence Energy stock opened at $4.42 on Thursday. The company’s 50 day simple moving average is $6.34 and its 200-day simple moving average is $14.35. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. Fluence Energy, Inc. has a 1 year low of $3.63 and a 1 year high of $26.12. The company has a market capitalization of $802.45 million, a price-to-earnings ratio of -88.40 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. As a group, equities research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

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.