Algert Global LLC Buys 32,188 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Algert Global LLC boosted its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 318.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,290 shares of the company’s stock after acquiring an additional 32,188 shares during the quarter. Algert Global LLC’s holdings in Fluence Energy were worth $672,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. increased its stake in Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after acquiring an additional 1,432 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its stake in Fluence Energy by 7.3% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after acquiring an additional 1,500 shares during the last quarter. KBC Group NV increased its stake in Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after acquiring an additional 1,671 shares during the last quarter. Swiss National Bank increased its stake in Fluence Energy by 1.4% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company’s stock worth $2,014,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in Fluence Energy during the fourth quarter worth approximately $34,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Stock Down 4.8%

Shares of NASDAQ FLNC opened at $4.59 on Monday. 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 firm has a market capitalization of $833.31 million, a price-to-earnings ratio of -91.80 and a beta of 2.49. The stock has a 50 day moving average price of $4.59 and a 200 day moving average price of $11.62. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The firm had revenue of $431.62 million during the quarter, compared to analysts’ expectations of $328.17 million. Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The firm’s revenue for the quarter was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. Sell-side analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FLNC. Roth Capital cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Bank of America cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Canaccord Genuity Group cut their target price on Fluence Energy from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut Fluence Energy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, BMO Capital Markets cut Fluence Energy from an “outperform” rating to a “market perform” rating and cut their target price for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy has an average rating of “Hold” and an average price target of $10.41.

Insiders Place Their Bets

In related news, CFO Ahmed Pasha bought 15,500 shares of the stock in a transaction on Friday, February 14th. The stock was bought at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the acquisition, the chief financial officer now directly owns 24,703 shares in the company, valued at approximately $160,075.44. This represents a 168.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now owns 115,861 shares of the company’s stock, valued at $626,808.01. This trade represents a 9.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 79,000 shares of company stock worth $499,665 over the last 90 days. Company insiders own 0.65% of the company’s stock.

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.