Zimmer Partners LP Purchases 1,894,301 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Zimmer Partners LP raised its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 757.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,144,301 shares of the company's stock after purchasing an additional 1,894,301 shares during the period. Zimmer Partners LP owned 1.18% of Fluence Energy worth $34,052,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FLNC. Altshuler Shaham Ltd bought a new stake in shares of Fluence Energy in the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC boosted its position in shares of Fluence Energy by 827.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock valued at $88,000 after acquiring an additional 4,921 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Fluence Energy in the fourth quarter valued at about $176,000. Envestnet Asset Management Inc. boosted its position in shares of Fluence Energy by 47.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after acquiring an additional 4,285 shares during the period. Finally, Polymer Capital Management US LLC bought a new stake in shares of Fluence Energy in the fourth quarter valued at about $212,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Trading Down 1.0%

Shares of Fluence Energy stock traded down $0.05 on Friday, hitting $4.88. The stock had a trading volume of 3,314,147 shares, compared to its average volume of 3,666,702. The stock has a 50 day moving average of $4.58 and a 200 day moving average of $10.59. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $26.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market capitalization of $885.96 million, a P/E ratio of -97.60 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The firm had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. During the same period in the prior year, the company earned ($0.07) EPS. The business's quarterly revenue was down 30.7% compared to the same quarter last year. Sell-side analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now owns 115,861 shares in the company, valued at $626,808.01. This trade represents a 9.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cynthia A. Arnold purchased 33,000 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $5.90 per share, with a total value of $194,700.00. Following the acquisition, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLNC. Hsbc Global Res cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Bank of America cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. UBS Group upped their price objective on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. 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. Finally, Royal Bank of Canada cut shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Fluence Energy presently has an average rating of "Hold" and an average price target of $8.21.

Fluence Energy Company 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.