1,422,900 Shares in Fluence Energy, Inc. $FLNC Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in Fluence Energy, Inc. (NASDAQ:FLNC) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,422,900 shares of the company’s stock, valued at approximately $19,579,000.

Several other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after acquiring an additional 2,076,668 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Fluence Energy by 5,489.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock worth $60,247,000 after acquiring an additional 2,991,292 shares during the last quarter. UBS Group AG increased its position in shares of Fluence Energy by 65.2% during the fourth quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock worth $51,940,000 after purchasing an additional 1,036,423 shares in the last quarter. Millennium Management LLC increased its position in shares of Fluence Energy by 11.3% during the third quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock worth $24,114,000 after purchasing an additional 227,080 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its stake in Fluence Energy by 82.6% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,965,083 shares of the company’s stock valued at $21,223,000 after purchasing an additional 888,893 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Up 13.3%

Shares of NASDAQ:FLNC opened at $13.47 on Friday. Fluence Energy, Inc. has a 52-week low of $6.60 and a 52-week high of $33.51. The stock has a market cap of $2.48 billion, a P/E ratio of -37.42 and a beta of 2.75. The business has a fifty day moving average of $19.41 and a two-hundred day moving average of $18.72. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The firm had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. During the same quarter in the previous year, the company posted ($0.24) EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts expect that Fluence Energy, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

FLNC has been the topic of a number of research reports. Glj Research started coverage on Fluence Energy in a report on Wednesday, July 1st. They issued a “buy” rating and a $26.00 price objective on the stock. Canaccord Genuity Group set a $28.00 target price on shares of Fluence Energy in a research report on Friday, May 8th. Roth Capital raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday, May 8th. UBS Group boosted their price target on shares of Fluence Energy from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Fluence Energy in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.53.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, SVP John Zahurancik sold 16,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $25.18, for a total value of $402,880.00. Following the transaction, the senior vice president directly owned 87,145 shares in the company, valued at $2,194,311.10. The trade was a 15.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director directly owned 58,550 shares of the company’s stock, valued at approximately $1,463,750. This trade represents a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,904,146 shares of company stock worth $61,090,399 in the last ninety days. 0.69% of the stock is owned by insiders.

Fluence Energy Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.