Federated Hermes Inc. Boosts Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Federated Hermes Inc. boosted its holdings in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 2,409.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 541,168 shares of the company's stock after buying an additional 519,601 shares during the quarter. Federated Hermes Inc. owned approximately 0.30% of Fluence Energy worth $2,625,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC increased its holdings in Fluence Energy by 257.2% in the fourth quarter. Millennium Management LLC now owns 720,828 shares of the company's stock valued at $11,447,000 after buying an additional 519,049 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Fluence Energy in the fourth quarter valued at $1,221,000. Bryce Point Capital LLC acquired a new position in Fluence Energy in the first quarter valued at $591,000. Janney Montgomery Scott LLC acquired a new position in Fluence Energy in the first quarter valued at $403,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in Fluence Energy in the first quarter valued at $509,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have issued reports on FLNC. Canaccord Genuity Group decreased their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Guggenheim decreased their price objective on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Susquehanna upped their price objective on shares of Fluence Energy from $6.00 to $11.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Robert W. Baird decreased their price objective 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. Finally, Jefferies Financial Group restated an "underperform" rating and issued a $6.00 price objective on shares of Fluence Energy in a research note on Friday, July 11th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Fluence Energy has a consensus rating of "Hold" and an average target price of $7.98.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $8.48 on Tuesday. Fluence Energy, Inc. has a 52 week low of $3.46 and a 52 week high of $24.00. The company has a 50-day moving average price of $6.89 and a 200 day moving average price of $6.61. The company has a market cap of $1.54 billion, a P/E ratio of -38.55 and a beta of 2.67. 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 data 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). Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The business had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. During the same period in the prior year, the firm posted ($0.07) EPS. Fluence Energy's revenue for the quarter was down 30.7% compared to the same quarter last year. Research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

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.

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