Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 426.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 111,148 shares of the company's stock after purchasing an additional 90,048 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.06% of Fluence Energy worth $1,765,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in shares of Fluence Energy during the 4th quarter worth $34,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Fluence Energy during the fourth quarter worth about $79,000. Tower Research Capital LLC TRC lifted its holdings in shares of Fluence Energy by 827.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock valued at $88,000 after purchasing an additional 4,921 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $176,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Fluence Energy by 47.4% in the fourth 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group reduced 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 price target for the stock from $14.00 to $7.00 in a report on Friday, April 11th. Susquehanna decreased their price objective on Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Hsbc Global Res cut Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Truist Financial reduced their target price on shares of Fluence Energy from $28.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.17.

Fluence Energy Trading Up 0.7%

NASDAQ:FLNC traded up $0.04 on Friday, hitting $5.41. 5,452,910 shares of the stock were exchanged, compared to its average volume of 3,640,979. The stock has a fifty day moving average of $4.60 and a 200-day moving average of $11.33. The stock has a market cap of $982.18 million, a PE ratio of -108.20 and a beta of 2.49. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its 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). 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 period last year, the company posted ($0.07) EPS. The firm's revenue for the quarter was down 30.7% compared to the same quarter last year. As a group, equities analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director now 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herman E. Bulls bought 10,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

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.