Cubist Systematic Strategies LLC Increases Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Cubist Systematic Strategies LLC boosted its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 426.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,148 shares of the company's stock after purchasing an additional 90,048 shares during the period. Cubist Systematic Strategies LLC owned about 0.06% of Fluence Energy worth $1,765,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FLNC. Vanguard Group Inc. grew its stake in Fluence Energy by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock worth $99,287,000 after purchasing an additional 110,256 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock valued at $29,367,000 after purchasing an additional 296,325 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fluence Energy by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company's stock valued at $24,035,000 after purchasing an additional 5,216 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Fluence Energy by 22.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,134,173 shares of the company's stock valued at $18,013,000 after acquiring an additional 207,784 shares during the last quarter. Finally, Erste Asset Management GmbH increased its position in Fluence Energy by 15.5% during the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company's stock valued at $18,058,000 after acquiring an additional 148,857 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FLNC has been the subject of several research analyst reports. Bank of America cut Fluence Energy from a "buy" rating to a "neutral" rating and cut their target price for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Royal Bank of Canada lowered Fluence Energy from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $25.00 to $7.00 in a research report on Wednesday, February 12th. Morgan Stanley set a $4.00 price target on Fluence Energy in a research report on Wednesday, April 23rd. BMO Capital Markets lowered Fluence Energy from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $22.00 to $10.00 in a research report on Tuesday, February 11th. Finally, 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. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.17.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now owns 115,861 shares in the company, valued at approximately $626,808.01. This represents a 9.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cynthia A. Arnold bought 33,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $5.90 per share, with a total value of $194,700.00. Following the completion of the purchase, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. This represents a 62.03% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.65% of the company's stock.

Fluence Energy Stock Performance

FLNC traded up $0.04 on Friday, hitting $5.41. 5,452,910 shares of the company traded hands, compared to its average volume of 3,659,331. The company has a 50 day moving average of $4.60 and a 200-day moving average of $11.08. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $982.18 million, a PE ratio of -108.20 and a beta of 2.49. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $431.62 million for 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 was down 30.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. Sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Fluence Energy 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.