Edgestream Partners L.P. Takes $4.18 Million Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Edgestream Partners L.P. purchased a new position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 861,769 shares of the company's stock, valued at approximately $4,180,000. Edgestream Partners L.P. owned approximately 0.47% of Fluence Energy as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLNC. Zimmer Partners LP increased its holdings 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 acquiring an additional 1,894,301 shares in the last quarter. Webs Creek Capital Management LP purchased a new stake in Fluence Energy in the 4th quarter worth $15,118,000. Covalis Capital LLP purchased a new stake in Fluence Energy in the 4th quarter worth $12,113,000. Trexquant Investment LP increased its holdings 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 acquiring an additional 747,103 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings 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 acquiring an additional 610,229 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Trading Up 8.7%

NASDAQ:FLNC traded up $0.72 on Friday, reaching $8.96. 5,297,758 shares of the company's stock were exchanged, compared to its average volume of 3,954,747. 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 firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -40.73 and a beta of 2.65. The business has a fifty day moving average of $6.09 and a 200-day moving average of $7.32. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week 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 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 return on equity of 4.40% and a negative net margin of 1.10%. The firm's quarterly revenue was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $5.90 per share, with a total value of $194,700.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Susquehanna lowered their target price on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Hsbc Global Res cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. HSBC cut shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research report on Monday, April 28th. Mizuho reissued a "neutral" rating and set a $10.00 price target (up previously from $6.00) on shares of Fluence Energy in a research report on Monday, July 14th. Finally, Morgan Stanley boosted their price target on shares of Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Fluence Energy presently has an average rating of "Hold" and a consensus price target of $7.78.

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.