Fluence Energy, Inc. (NASDAQ:FLNC) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted 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 SEC. The institutional investor owned 578,750 shares of the company's stock after buying an additional 177,931 shares during the quarter. Bank of America Corp DE owned approximately 0.32% of Fluence Energy worth $9,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Fluence Energy during the fourth quarter valued at $34,000. Tower Research Capital LLC TRC increased its holdings in shares of Fluence Energy by 827.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after buying an additional 4,921 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Fluence Energy during the 4th quarter valued at about $176,000. Envestnet Asset Management Inc. lifted its holdings in shares of Fluence Energy by 47.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after acquiring an additional 4,285 shares during the last quarter. Finally, Polymer Capital Management US LLC purchased a new position in Fluence Energy in the fourth quarter worth about $212,000. Institutional investors own 53.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FLNC shares. Hsbc Global Res lowered Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Wolfe Research downgraded Fluence Energy from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, February 12th. Citigroup cut their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Guggenheim lowered their target price on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. Finally, Barclays reiterated an "equal weight" rating and set a $5.00 price target (down from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $8.21.

Fluence Energy Stock Down 1.0%

Shares of FLNC stock traded down $0.05 during mid-day trading on Tuesday, hitting $4.83. 3,883,976 shares of the stock traded hands, compared to its average volume of 3,667,571. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week high of $26.12. The stock has a market cap of $876.88 million, a P/E ratio of -96.60 and a beta of 2.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The stock's fifty day moving average is $4.56 and its two-hundred day moving average is $10.41.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its 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). The firm 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%. During the same period in the previous year, the company earned ($0.07) EPS. The company's revenue was down 30.7% on a year-over-year basis. Equities analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the purchase, the director now directly owns 115,861 shares in the company, valued at $626,808.01. This represents a 9.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Cynthia A. Arnold purchased 33,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was acquired at an average price 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 of the company's stock, valued at $508,591.80. The trade was 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 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.