Cerity Partners LLC Takes $159,000 Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Cerity Partners LLC bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 32,759 shares of the company's stock, valued at approximately $159,000.

A number of other hedge funds have also recently bought and sold shares of the company. Zimmer Partners LP increased its position in Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after buying an additional 1,894,301 shares during the period. Webs Creek Capital Management LP bought a new position in Fluence Energy in the 4th quarter worth approximately $15,118,000. Covalis Capital LLP bought a new position in Fluence Energy in the 4th quarter worth approximately $12,113,000. Trexquant Investment LP increased its position in Fluence Energy by 577.5% in the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock worth $13,918,000 after buying an additional 747,103 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Fluence Energy by 63.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company's stock worth $24,940,000 after buying an additional 610,229 shares during the period. 53.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on FLNC. HSBC cut Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a research report on Monday, April 28th. The Goldman Sachs Group decreased their target price 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. Mizuho reaffirmed a "neutral" rating and issued a $10.00 price target (up previously from $6.00) on shares of Fluence Energy in a research note on Monday, July 14th. Guggenheim decreased their price target on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Finally, Seaport Res Ptn lowered Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $7.98.

Fluence Energy Trading Down 1.0%

Shares of Fluence Energy stock traded down $0.08 on Thursday, reaching $8.12. The stock had a trading volume of 2,735,300 shares, compared to its average volume of 4,641,118. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $6.69 and a 200 day moving average price of $6.89. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $24.00.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The firm had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. During the same period in the previous year, the company earned ($0.07) earnings per share. Fluence Energy's revenue was down 30.7% on a year-over-year basis. On average, research analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director owned 86,202 shares in the company, valued at $508,591.80. This represents a 62.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.65% of the company's stock.

About Fluence Energy

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.