Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 856,268 shares of the company’s stock after acquiring an additional 72,302 shares during the period. First Trust Advisors LP owned about 0.47% of Fluence Energy worth $13,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Sanders Morris Harris LLC acquired a new stake in Fluence Energy during the 4th quarter worth $812,000. Cidel Asset Management Inc. acquired a new stake in Fluence Energy in the fourth quarter valued at $350,000. SG Americas Securities LLC grew its stake in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after purchasing an additional 21,597 shares during the period. Prescott Group Capital Management L.L.C. purchased a new position in shares of Fluence Energy in the 4th quarter valued at about $1,429,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $5,742,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Insider Activity at Fluence Energy

In related news, CFO Ahmed Pasha acquired 15,500 shares of the stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the transaction, the chief financial officer now owns 24,703 shares of the company’s stock, valued at $160,075.44. This trade represents a 168.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, the director now owns 115,861 shares in the company, valued at approximately $626,808.01. The trade was a 9.45 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 79,000 shares of company stock worth $499,665. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on FLNC. UBS Group lowered their price target on shares of Fluence Energy from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Robert W. Baird lowered their target price on shares of Fluence Energy from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. Canaccord Genuity Group decreased their target price on Fluence Energy from $14.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, Truist Financial decreased their price objective on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.95.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $4.18 on Monday. The business’s 50 day simple moving average is $4.96 and its 200 day simple moving average is $12.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. Fluence Energy, Inc. has a one year low of $3.46 and a one year high of $26.12. The stock has a market capitalization of $758.87 million, a PE ratio of -83.60 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, research analysts forecast 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.