Fluence Energy, Inc. (NASDAQ:FLNC) Stock Position Increased by Nuveen Asset Management LLC

Nuveen Asset Management LLC grew its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 0.59% of Fluence Energy worth $17,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FLNC. Altshuler Shaham Ltd purchased a new stake in shares of Fluence Energy in the 4th quarter worth $34,000. Tower Research Capital LLC TRC grew its holdings in Fluence Energy by 827.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after acquiring an additional 4,921 shares during the period. Blueshift Asset Management LLC acquired a new stake in Fluence Energy in the fourth quarter valued at approximately $176,000. Envestnet Asset Management Inc. grew its holdings in 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 purchasing an additional 4,285 shares during the period. Finally, Polymer Capital Management US LLC purchased a new position in shares of Fluence Energy in the fourth quarter valued at approximately $212,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Insider Buying and Selling at Fluence Energy

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

Fluence Energy Stock Performance

FLNC stock traded down $0.05 during midday trading on Tuesday, reaching $4.83. The company had a trading volume of 3,883,976 shares, compared to its average volume of 3,667,571. 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 stock has a 50 day moving average price of $4.56 and a 200 day moving average price of $10.41. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12. The firm has a market capitalization of $876.88 million, a PE ratio of -96.60 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The company had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The business's revenue was down 30.7% on a year-over-year basis. Analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group decreased their target price on Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Barclays restated an "equal weight" rating and issued a $5.00 target price (down previously from $9.00) on shares of Fluence Energy in a research report on Tuesday, April 8th. 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 report on Tuesday, April 15th. UBS Group lifted their price objective on Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Roth Mkm downgraded Fluence Energy from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $20.00 to $6.50 in a research report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Fluence Energy presently 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.