Fluence Energy, Inc. (NASDAQ:FLNC) Stock Holdings Increased by Millennium Management LLC

Millennium Management LLC raised its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 257.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 720,828 shares of the company's stock after purchasing an additional 519,049 shares during the quarter. Millennium Management LLC owned 0.40% of Fluence Energy worth $11,447,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FLNC. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy in the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC grew its stake 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 buying an additional 4,921 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Fluence Energy in the fourth quarter valued at about $176,000. Envestnet Asset Management Inc. grew its stake 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 buying an additional 4,285 shares in the last quarter. Finally, Polymer Capital Management US LLC acquired 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 hedge funds and other institutional investors.

Fluence Energy Stock Performance

Shares of FLNC traded up $0.07 during mid-day trading on Thursday, hitting $4.85. The stock had a trading volume of 1,007,282 shares, compared to its average volume of 5,519,113. The company has a market cap of $879.60 million, a PE ratio of -96.90 and a beta of 2.49. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The company's fifty day simple moving average is $4.54 and its two-hundred day simple moving average is $10.33.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FLNC. Bank of America lowered Fluence Energy from a "buy" rating to a "neutral" rating and lowered their target price for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Mizuho began coverage on Fluence Energy in a research note on Wednesday, March 5th. They set an "outperform" rating and a $8.00 price objective for the company. UBS Group raised their price objective on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Susquehanna lowered their price objective on Fluence Energy from $10.00 to $8.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Hsbc Global Res lowered 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 issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.21.

Insider Buying and Selling

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

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.