32,759 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Bought by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,759 shares of the company's stock, valued at approximately $159,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLNC. Ameriprise Financial Inc. boosted its holdings 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 buying an additional 1,734 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $34,000. Alps Advisors Inc. raised its holdings in Fluence Energy by 2.5% during the 1st quarter. Alps Advisors Inc. now owns 99,891 shares of the company's stock worth $484,000 after purchasing an additional 2,444 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Fluence Energy by 7.8% in the fourth quarter. MetLife Investment Management LLC now owns 37,557 shares of the company's stock worth $596,000 after purchasing an additional 2,718 shares during the period. Finally, Vident Advisory LLC increased its stake in Fluence Energy by 35.8% during the 4th quarter. Vident Advisory LLC now owns 13,930 shares of the company's stock valued at $221,000 after purchasing an additional 3,672 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLNC. Piper Sandler lowered their price target on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. UBS Group lifted their price target on Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Morgan Stanley boosted their price objective on Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Robert W. Baird decreased their price objective on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Jefferies Financial Group reissued an "underperform" rating and set a $6.00 price target on shares of Fluence Energy in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.98.

Insider Transactions at Fluence Energy

In other news, Director Cynthia A. Arnold purchased 33,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the purchase, the director owned 86,202 shares in the company, valued at $508,591.80. This trade represents a 62.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is owned by company insiders.

Fluence Energy Trading Down 4.2%

Shares of NASDAQ:FLNC traded down $0.34 during midday trading on Friday, reaching $7.78. The company's stock had a trading volume of 3,987,264 shares, compared to its average volume of 4,472,277. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $24.00. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -35.36 and a beta of 2.65. 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 business has a 50 day moving average price of $6.82 and a 200 day moving average price of $6.77.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The company had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The company's revenue for the quarter was down 30.7% compared to the same quarter last year. Research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

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.