Fluence Energy, Inc. (NASDAQ:FLNC) Shares Purchased by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC significantly increased its stake in Fluence Energy by 343.1%, acquiring an additional 217,725 shares in the first quarter.
• Fluence Energy reported a loss of ($0.24) EPS, missing estimates, while its quarterly revenue was down 30.7% year-over-year at $431.62 million.
• Analysts have mixed ratings on Fluence Energy, with a consensus rating of "Hold" and an average price target of $7.98.

Mizuho Markets Americas LLC boosted its holdings in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 343.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 281,185 shares of the company's stock after acquiring an additional 217,725 shares during the period. Mizuho Markets Americas LLC owned 0.15% of Fluence Energy worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in Fluence Energy by 257.2% in the 4th 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Fluence Energy in the 4th quarter valued at $1,221,000. Bryce Point Capital LLC acquired a new position in Fluence Energy in the 1st quarter valued at $591,000. Janney Montgomery Scott LLC acquired a new position in Fluence Energy in the 1st quarter valued at $403,000. Finally, Federated Hermes Inc. grew its holdings in shares of Fluence Energy by 2,409.2% during the 1st quarter. Federated Hermes Inc. now owns 541,168 shares of the company's stock worth $2,625,000 after purchasing an additional 519,601 shares in the last quarter. Institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Down 19.4%

FLNC stock traded down $1.77 on Tuesday, reaching $7.37. 10,155,845 shares of the company traded hands, compared to its average volume of 3,974,754. Fluence Energy, Inc. has a one year low of $3.46 and a one year high of $24.00. 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 fifty day simple moving average of $7.36 and a 200-day simple moving average of $6.43.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. Fluence Energy had a negative return on equity of 3.38% and a negative net margin of 0.76%. The company had revenue of $602.53 million during the quarter, compared to analyst estimates of $738.52 million. The business's revenue for the quarter was up 24.7% on a year-over-year basis. Sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLNC. JPMorgan Chase & Co. increased their target price on Fluence Energy from $5.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Robert W. Baird reduced their price objective on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Barclays reduced their price objective on Fluence Energy from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Guggenheim dropped their target price on Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, Susquehanna increased their target price on Fluence Energy from $6.00 to $11.00 and gave the company a "positive" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $7.93.

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.