Bryce Point Capital LLC Takes $591,000 Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Key Points

• Bryce Point Capital LLC has made a new investment of approximately $591,000 in Fluence Energy, purchasing 121,840 shares, which represents 0.07% ownership of the company.
• Fluence Energy reported a net loss of ($0.24) EPS for the latest quarter, missing the consensus estimate, although its revenue was significantly higher than expected at $431.62 million.
• Several institutional investors, including Vanguard Group and Zimmer Partners, have increased their stakes in Fluence Energy, indicating strong institutional interest in the company.

Bryce Point Capital LLC acquired a new position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 121,840 shares of the company's stock, valued at approximately $591,000. Bryce Point Capital LLC owned 0.07% of Fluence Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Altshuler Shaham Ltd purchased a new stake in shares of Fluence Energy in the fourth quarter worth about $34,000. Tower Research Capital LLC TRC increased its holdings in Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after acquiring an additional 4,921 shares during the period. SBI Securities Co. Ltd. lifted its stake in Fluence Energy by 462.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock worth $39,000 after purchasing an additional 6,648 shares in the last quarter. Silverlake Wealth Management LLC bought a new position in Fluence Energy in the 1st quarter valued at $56,000. Finally, Alpha Wealth Funds LLC purchased a new position in shares of Fluence Energy during the 1st quarter valued at $63,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Trading Down 5.8%

Shares of NASDAQ FLNC traded down $0.54 during midday trading on Monday, reaching $8.84. The company had a trading volume of 3,557,202 shares, compared to its average volume of 5,421,755. The stock has a market cap of $1.60 billion, a PE ratio of -40.18 and a beta of 2.65. Fluence Energy, Inc. has a one year low of $3.46 and a one year high of $24.00. The firm's fifty day moving average price is $6.50 and its 200-day moving average price is $6.92. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly 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 company had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. Fluence Energy's revenue for the quarter was down 30.7% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. On average, equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FLNC shares. JPMorgan Chase & Co. increased their price objective on Fluence Energy from $5.00 to $8.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Canaccord Genuity Group lowered their price target on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research report on Monday, April 28th. The Goldman Sachs Group decreased their price objective on shares of Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Robert W. Baird cut their price target on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of "Hold" and an average price target of $7.98.

Insiders Place Their Bets

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director owned 86,202 shares of the company's stock, valued at $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is 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.