Alyeska Investment Group L.P. Takes $2.80 Million Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Alyeska Investment Group L.P. bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 176,367 shares of the company's stock, valued at approximately $2,801,000. Alyeska Investment Group L.P. owned approximately 0.10% of Fluence Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FLNC. Altshuler Shaham Ltd bought a new position in Fluence Energy during the 4th quarter worth $34,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Fluence Energy in the fourth quarter valued at about $79,000. Tower Research Capital LLC TRC increased its holdings in Fluence Energy by 827.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock valued at $88,000 after buying an additional 4,921 shares during the period. Blueshift Asset Management LLC acquired a new stake in shares of Fluence Energy during the 4th quarter worth approximately $176,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Fluence Energy by 47.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after purchasing an additional 4,285 shares during the last quarter. 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 bought 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Julian Nebreda bought 23,500 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the transaction, the chief executive officer now owns 120,455 shares of the company's stock, valued at $764,889.25. This represents a 24.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 79,000 shares of company stock valued at $499,665 over the last three months. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FLNC has been the topic of a number of research reports. Morgan Stanley set a $4.00 target price on shares of Fluence Energy in a report on Wednesday, April 23rd. Guggenheim cut their target price on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Robert W. Baird reduced their price target on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Mizuho began coverage on shares of Fluence Energy in a research report on Wednesday, March 5th. They issued an "outperform" rating and a $8.00 price objective for the company. Finally, Wolfe Research downgraded shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Fluence Energy has a consensus rating of "Hold" and an average price target of $10.41.

Fluence Energy Stock Up 19.5%

Shares of NASDAQ:FLNC traded up $0.89 during trading on Monday, hitting $5.47. 7,155,863 shares of the company were exchanged, compared to its average volume of 5,580,494. The firm's 50 day moving average price is $4.59 and its 200-day moving average price is $11.62. 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 12-month low of $3.46 and a 12-month high of $26.12. The stock has a market capitalization of $993.25 million, a P/E ratio of -109.42 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The business had revenue of $431.62 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, research analysts predict 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.