Bank of America Corp DE Raises Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Bank of America Corp DE increased its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 44.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 578,750 shares of the company's stock after purchasing an additional 177,931 shares during the quarter. Bank of America Corp DE owned 0.32% of Fluence Energy worth $9,191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company's stock worth $4,127,000 after buying an additional 135,957 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Fluence Energy by 79.2% in the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock worth $776,000 after purchasing an additional 21,597 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Fluence Energy in the 4th quarter worth $340,000. KBC Group NV raised its holdings in Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company's stock worth $1,720,000 after purchasing an additional 1,671 shares during the period. Finally, Canal Insurance CO lifted its position in Fluence Energy by 15.0% during the fourth quarter. Canal Insurance CO now owns 300,000 shares of the company's stock valued at $4,764,000 after purchasing an additional 39,200 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on FLNC shares. 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. UBS Group boosted their price objective on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Jefferies Financial Group lowered shares of Fluence Energy from a "hold" rating to an "underperform" rating and reduced their target price for the stock from $4.00 to $3.00 in a report on Thursday, May 15th. HSBC downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a report on Monday, April 28th. Finally, Wolfe Research cut shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $8.21.

Fluence Energy Trading Down 2.1%

NASDAQ:FLNC traded down $0.10 during midday trading on Thursday, hitting $4.68. 2,628,206 shares of the company traded hands, compared to its average volume of 3,636,197. The firm has a market capitalization of $849.65 million, a P/E ratio of -93.60 and a beta of 2.49. The firm's fifty day moving average is $4.53 and its 200-day moving average is $10.22. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $26.12. 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 (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share 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 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 company's revenue was down 30.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. On average, sell-side analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current year.

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 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 completion of the transaction, the director now directly owns 115,861 shares of the company's stock, valued at approximately $626,808.01. This represents a 9.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, for a total transaction of $194,700.00. Following the purchase, 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 disclosure for this purchase can be found here. 0.65% of the stock is currently owned by 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.