Edgestream Partners L.P. Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Edgestream Partners L.P. acquired a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 861,769 shares of the company's stock, valued at approximately $4,180,000. Edgestream Partners L.P. owned about 0.47% of Fluence Energy as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FLNC. Bank of New York Mellon Corp grew its position in shares of Fluence Energy by 18.0% during the 4th quarter. Bank of New York Mellon Corp now owns 199,575 shares of the company's stock valued at $3,169,000 after buying an additional 30,480 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Fluence Energy by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 523,872 shares of the company's stock worth $8,319,000 after purchasing an additional 21,932 shares during the last quarter. Raymond James Financial Inc. bought a new position in Fluence Energy in the 4th quarter worth about $1,221,000. Swiss National Bank grew its position in Fluence Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Fluence Energy by 52.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 50,763 shares of the company's stock worth $806,000 after purchasing an additional 17,437 shares during the last quarter. Institutional investors own 53.16% of the company's stock.

Fluence Energy Price Performance

FLNC stock traded up $0.43 on Friday, hitting $8.67. 1,471,977 shares of the company's stock traded hands, compared to its average volume of 3,933,737. Fluence Energy, Inc. has a 1-year low of $3.46 and a 1-year high of $24.00. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -39.48 and a beta of 2.65. The stock has a fifty day moving average of $6.00 and a 200-day moving average of $7.37. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS 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 1.10% and a negative return on equity of 4.40%. The firm's revenue was down 30.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS. On average, analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FLNC has been the subject of several recent analyst reports. Barclays upped their target price on shares of Fluence Energy from $5.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday. Robert W. Baird decreased their target price on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Guggenheim decreased their target price on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. HSBC cut shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price for the company. in a research report on Monday, April 28th. Finally, Hsbc Global Res cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $7.78.

Insider Activity at Fluence Energy

In other news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director owned 86,202 shares in the company, valued at $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.65% of the company's stock.

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.