KBC Group NV Acquires 48,360 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

KBC Group NV increased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 44.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,656 shares of the company's stock after purchasing an additional 48,360 shares during the period. KBC Group NV owned 0.09% of Fluence Energy worth $760,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FLNC. Prescott Group Capital Management L.L.C. acquired a new stake in Fluence Energy in the fourth quarter valued at $1,429,000. Millennium Management LLC boosted its holdings in shares of Fluence Energy by 257.2% in the fourth quarter. Millennium Management LLC now owns 720,828 shares of the company's stock worth $11,447,000 after buying an additional 519,049 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Fluence Energy in the fourth quarter worth approximately $1,221,000. Erste Asset Management GmbH lifted its position in shares of Fluence Energy by 15.5% in the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company's stock worth $18,058,000 after purchasing an additional 148,857 shares in the last quarter. Finally, Trexquant Investment LP raised its position in Fluence Energy by 577.5% during the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock valued at $13,918,000 after acquiring an additional 747,103 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FLNC shares. HSBC downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research note on Monday, April 28th. Hsbc Global Res lowered Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group upped their price objective on Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Morgan Stanley increased their price objective on 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, BMO Capital Markets set a $5.00 price target on shares of Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.88.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction on Monday, May 12th. The stock was bought at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director owned 86,202 shares of the company's stock, valued at $508,591.80. The trade was a 62.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company's stock.

Fluence Energy Stock Up 11.7%

Fluence Energy stock traded up $0.88 during midday trading on Friday, reaching $8.36. 6,114,141 shares of the company were exchanged, compared to its average volume of 3,876,636. The firm's 50-day simple moving average is $5.29 and its 200-day simple moving average is $7.73. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $24.00. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The business had revenue of $431.62 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down 30.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) EPS. On average, research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

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.