BNP Paribas Financial Markets Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

BNP Paribas Financial Markets purchased a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 69,684 shares of the company's stock, valued at approximately $1,107,000.

A number of other institutional investors have also recently bought and sold shares of the business. Duff & Phelps Investment Management Co. increased its position in Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock worth $432,000 after buying an additional 1,432 shares during the last quarter. Lazard Freres Gestion S.A.S. grew its position in shares of Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock valued at $352,000 after purchasing an additional 1,500 shares during the last quarter. KBC Group NV grew its position in shares of Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company's stock valued at $1,720,000 after purchasing an additional 1,671 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Fluence Energy by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock valued at $6,988,000 after purchasing an additional 1,734 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Fluence Energy by 1.4% in the fourth quarter. Swiss National Bank now owns 126,800 shares of the company's stock valued at $2,014,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FLNC. Robert W. Baird decreased their target price on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. The Goldman Sachs Group decreased their target price on Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a research report on Monday, April 28th. JPMorgan Chase & Co. cut Fluence Energy from an "overweight" rating to a "neutral" rating and cut their price target for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, Roth Mkm cut Fluence Energy from a "buy" rating to a "neutral" rating and cut their price target for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. Two investment 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. According to MarketBeat, Fluence Energy has a consensus rating of "Hold" and an average price target of $8.21.

Fluence Energy Trading Down 1.0%

NASDAQ:FLNC traded down $0.05 during trading hours on Friday, hitting $4.88. 3,314,147 shares of the company were exchanged, compared to its average volume of 3,676,334. The stock has a market capitalization of $885.96 million, a price-to-earnings ratio of -97.60 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 one year low of $3.46 and a one year high of $26.12. The company has a fifty day simple moving average of $4.58 and a 200 day simple moving average of $10.65.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its 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 firm 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 business's quarterly revenue was down 30.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) earnings per share. Sell-side analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Herman E. Bulls purchased 10,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the purchase, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Cynthia A. Arnold purchased 33,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were bought at an average price of $5.90 per share, with a total value of $194,700.00. Following the purchase, the director now directly owns 86,202 shares in the company, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

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.