Federated Hermes Inc. Buys 519,601 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Federated Hermes Inc. lifted its holdings in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 2,409.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,168 shares of the company's stock after purchasing an additional 519,601 shares during the period. Federated Hermes Inc. owned 0.30% of Fluence Energy worth $2,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy in the 4th quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position in Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after acquiring an additional 4,921 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Fluence Energy by 462.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock worth $39,000 after acquiring an additional 6,648 shares during the last quarter. Silverlake Wealth Management LLC acquired a new position in Fluence Energy during the 1st quarter worth $56,000. Finally, Alpha Wealth Funds LLC acquired a new position in Fluence Energy during the 1st quarter worth $63,000. Institutional investors and hedge funds own 53.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FLNC shares. BMO Capital Markets set a $5.00 target price on shares of Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Mizuho reaffirmed a "neutral" rating and set a $10.00 price objective (up previously from $6.00) on shares of Fluence Energy in a research report on Monday, July 14th. Hsbc Global Res lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Seaport Res Ptn lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group cut their price objective on shares of Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $7.98.

Fluence Energy Stock Down 0.7%

Shares of NASDAQ:FLNC traded down $0.07 during midday trading on Friday, reaching $9.01. 1,218,160 shares of the company were exchanged, compared to its average volume of 5,240,602. 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, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The stock has a fifty day simple moving average of $7.12 and a two-hundred day simple moving average of $6.60. The firm has a market cap of $1.63 billion, a PE ratio of -40.89 and a beta of 2.67.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly 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 company had revenue of $431.62 million during the quarter, compared to the consensus estimate 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 for the quarter was down 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. As a group, sell-side analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity 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 bought at an average price of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director directly owned 86,202 shares in the company, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.65% of the stock is currently owned by company insiders.

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.