Fluence Energy, Inc. (NASDAQ:FLNC) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,076,682 shares of the company's stock after acquiring an additional 114,525 shares during the quarter. Nuveen Asset Management LLC owned about 0.59% of Fluence Energy worth $17,098,000 at the end of the most recent quarter.

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

Fluence Energy Price Performance

Shares of NASDAQ FLNC traded up $0.07 during midday trading on Thursday, hitting $4.85. The company had a trading volume of 1,007,282 shares, compared to its average volume of 5,519,113. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $26.12. The business has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $10.33. The firm has a market capitalization of $879.60 million, a price-to-earnings ratio of -96.90 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). The business 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 business's revenue was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. Equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

FLNC has been the topic of several research reports. JPMorgan Chase & Co. downgraded shares of Fluence Energy from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $14.00 to $7.00 in a research report on Friday, April 11th. Bank of America downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Roth Capital downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Jefferies Financial Group downgraded shares of Fluence Energy from a "hold" rating to an "underperform" rating and lowered their price objective for the stock from $4.00 to $3.00 in a research report on Thursday, May 15th. Finally, Barclays reaffirmed an "equal weight" rating and issued a $5.00 target price (down previously from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Fluence Energy presently has an average rating of "Hold" and an average target price of $8.21.

Insiders Place Their Bets

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the business's stock in a transaction on 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 owns 115,861 shares in the company, valued at approximately $626,808.01. The trade was a 9.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 price of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director now owns 86,202 shares of the company's stock, valued at $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 company insiders.

About Fluence Energy

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.