Mizuho Markets Americas LLC Acquires 217,725 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

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 raised its holdings in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 343.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 281,185 shares of the company's stock after purchasing an additional 217,725 shares during the period. Mizuho Markets Americas LLC owned approximately 0.15% of Fluence Energy worth $1,364,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Altshuler Shaham Ltd bought a new stake in shares of Fluence Energy during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. lifted its holdings in shares of 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 period. Silverlake Wealth Management LLC bought a new stake in shares of Fluence Energy during the 1st quarter worth approximately $56,000. Alpha Wealth Funds LLC bought a new stake in shares of Fluence Energy during the 1st quarter worth approximately $63,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Fluence Energy during the 1st quarter worth approximately $82,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Price Performance

NASDAQ:FLNC traded up $0.02 during mid-day trading on Thursday, hitting $7.57. 2,199,175 shares of the stock traded hands, compared to its average volume of 5,268,188. The business's 50-day moving average price is $7.41 and its 200 day moving average price is $6.44. The company has a market cap of $1.37 billion, a PE ratio of -36.07 and a beta of 2.67. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $24.00. The company has a quick ratio of 0.99, a current ratio of 1.64 and a debt-to-equity ratio of 0.75.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $602.53 million during the quarter, compared to analysts' expectations of $738.52 million. Fluence Energy had a negative net margin of 0.76% and a negative return on equity of 3.42%. The business's quarterly revenue was up 24.7% on a year-over-year basis. On average, analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Mizuho reiterated a "neutral" rating and set a $10.00 price objective (up from $6.00) on shares of Fluence Energy in a research report on Monday, July 14th. HSBC cut shares of Fluence Energy from a "hold" rating to a "reduce" rating and set a $5.00 price objective for the company. in a research report on Wednesday. BMO Capital Markets set a $5.00 price objective on shares of Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Seaport Res Ptn cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley upped their price objective on shares of Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7.98.

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.