Fluence Energy, Inc. (NASDAQ:FLNC) Shares Acquired by KBC Group NV

KBC Group NV boosted its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 44.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,656 shares of the company's stock after buying an additional 48,360 shares during the period. KBC Group NV owned approximately 0.09% of Fluence Energy worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Fluence Energy during the 4th quarter valued at about $34,000. Alpha Wealth Funds LLC acquired a new position in shares of Fluence Energy in the first quarter valued at about $63,000. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 4,921 shares during the period. Pallas Capital Advisors LLC acquired a new position in shares of Fluence Energy in the first quarter valued at about $89,000. Finally, City Center Advisors LLC acquired a new position in shares of Fluence Energy in the first quarter valued at about $121,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fluence Energy

In other news, Director Cynthia A. Arnold bought 33,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director directly owned 86,202 shares in the company, valued at $508,591.80. The trade was a 62.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by company insiders.

Fluence Energy Price Performance

FLNC stock traded down $0.43 during mid-day trading on Monday, reaching $7.98. 6,425,165 shares of the company's stock were exchanged, compared to its average volume of 3,886,891. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -36.27 and a beta of 2.65. The stock's 50 day moving average is $5.36 and its 200 day moving average is $7.68. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $24.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on FLNC. JPMorgan Chase & Co. lowered Fluence Energy from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $14.00 to $7.00 in a report on Friday, April 11th. Barclays reissued an "equal weight" rating and issued a $5.00 price objective (down from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. UBS Group increased their price objective on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Canaccord Genuity Group lowered their target price on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Hsbc Global Res downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Fluence Energy currently has a consensus rating of "Hold" and a consensus price target of $7.88.

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.