SIR Capital Management L.P. Purchases Shares of 604,871 Fluence Energy, Inc. (NASDAQ:FLNC)

SIR Capital Management L.P. purchased a new stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 604,871 shares of the company's stock, valued at approximately $9,605,000. SIR Capital Management L.P. owned 0.33% of Fluence Energy as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Webs Creek Capital Management LP acquired a new stake in shares of Fluence Energy during the fourth quarter worth approximately $15,118,000. Covalis Capital LLP acquired a new position in Fluence Energy in the fourth quarter worth $12,113,000. Trexquant Investment LP boosted its holdings in Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock worth $13,918,000 after purchasing an additional 747,103 shares during the period. Point72 Asset Management L.P. boosted its holdings in Fluence Energy by 63.5% in the fourth quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company's stock worth $24,940,000 after purchasing an additional 610,229 shares during the period. Finally, Millennium Management LLC boosted its holdings in Fluence Energy by 257.2% in the fourth quarter. Millennium Management LLC now owns 720,828 shares of the company's stock worth $11,447,000 after purchasing an additional 519,049 shares during the period. Institutional investors and hedge funds own 53.16% of the company's stock.

Insider Activity at Fluence Energy

In related news, Director Cynthia A. Arnold purchased 33,000 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director now directly owns 86,202 shares of the company's stock, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The acquisition 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 stock in a transaction on Wednesday, March 5th. The stock was bought 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 directly owns 115,861 shares of the company's stock, valued at approximately $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. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HSBC downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price objective for the company. in a report on Monday, April 28th. Truist Financial lowered their target price on Fluence Energy from $28.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Susquehanna lowered their target price on Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Citigroup dropped their price target on Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group cut Fluence Energy from a "hold" rating to an "underperform" rating and dropped their price target for the stock from $4.00 to $3.00 in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $8.21.

Fluence Energy Stock Performance

Shares of FLNC stock traded down $0.14 during trading hours on Monday, reaching $5.27. 3,648,513 shares of the company's stock were exchanged, compared to its average volume of 3,659,301. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12. The stock has a market capitalization of $956.76 million, a P/E ratio of -105.40 and a beta of 2.49. The business has a fifty day moving average price of $4.60 and a 200-day moving average price of $10.97. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates 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 analyst estimates of $328.17 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The firm's quarterly revenue was down 30.7% compared to the same quarter last year. Analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal 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.