Hsbc Holdings PLC Increases Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Hsbc Holdings PLC grew its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 111.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,621 shares of the company’s stock after purchasing an additional 10,334 shares during the period. Hsbc Holdings PLC’s holdings in Fluence Energy were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Covalis Capital LLP purchased a new position in Fluence Energy in the fourth quarter worth about $12,113,000. Trexquant Investment LP increased its position in shares of Fluence Energy by 577.5% during the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after acquiring an additional 747,103 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Fluence Energy by 19.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after acquiring an additional 296,325 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Fluence Energy in the 4th quarter valued at approximately $4,288,000. Finally, JPMorgan Chase & Co. boosted its stake in Fluence Energy by 73.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after purchasing an additional 227,549 shares during the last quarter. 53.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FLNC has been the topic of a number of research analyst reports. UBS Group lowered their price target on Fluence Energy from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. Roth Mkm cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. Wolfe Research cut shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. HSBC cut shares of Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered shares of Fluence Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $7.00 in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Fluence Energy presently has an average rating of “Hold” and an average target price of $10.41.

Insider Buying and Selling

In other news, CEO Julian Nebreda bought 23,500 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the acquisition, the chief executive officer now owns 120,455 shares of the company’s stock, valued at $764,889.25. This trade represents a 24.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost 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 of the company’s stock, valued at $626,808.01. The trade was a 9.45 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 79,000 shares of company stock worth $499,665. 0.65% of the stock is owned by insiders.

Fluence Energy Trading Down 4.8 %

Shares of Fluence Energy stock opened at $4.59 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The company has a fifty day moving average of $4.59 and a 200 day moving average of $11.74. The company has a market capitalization of $833.31 million, a P/E ratio of -91.80 and a beta of 2.49. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The business had revenue of $431.62 million for the quarter, compared to analysts’ expectations of $328.17 million. During the same quarter in the prior year, the business posted ($0.07) EPS. The business’s revenue for the quarter was down 30.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

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.