Millennium Management LLC Has $11.45 Million Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Millennium Management LLC grew its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 257.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 720,828 shares of the company's stock after buying an additional 519,049 shares during the period. Millennium Management LLC owned 0.40% of Fluence Energy worth $11,447,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Fluence Energy during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC raised its stake in shares of Fluence Energy by 827.1% during the 4th 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. Blueshift Asset Management LLC bought a new stake in shares of Fluence Energy during the 4th quarter valued at $176,000. Envestnet Asset Management Inc. raised its stake in shares of Fluence Energy by 47.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after purchasing an additional 4,285 shares during the period. Finally, Polymer Capital Management US LLC bought a new position in Fluence Energy in the 4th quarter worth about $212,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Insiders Place Their Bets

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

Fluence Energy Stock Down 1.0%

NASDAQ:FLNC traded down $0.05 during mid-day trading on Tuesday, hitting $4.83. 3,883,976 shares of the company's stock traded hands, compared to its average volume of 3,667,571. The company has a fifty day moving average of $4.56 and a 200 day moving average of $10.41. 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 company has a market capitalization of $876.88 million, a P/E ratio of -96.60 and a beta of 2.49. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its 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 company had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The firm's revenue was down 30.7% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. On average, analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

FLNC has been the topic of a number of research analyst reports. Susquehanna decreased their target price on Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. HSBC lowered Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a research note on Monday, April 28th. Citigroup decreased their target price on Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Canaccord Genuity Group decreased 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, Guggenheim decreased their target price on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $8.21.

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.