SG Americas Securities LLC Boosts Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

SG Americas Securities LLC raised its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 101.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,621 shares of the company's stock after acquiring an additional 49,738 shares during the quarter. SG Americas Securities LLC owned approximately 0.05% of Fluence Energy worth $478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Fluence Energy by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock worth $99,287,000 after purchasing an additional 110,256 shares during the period. Zimmer Partners LP lifted its holdings in Fluence Energy by 757.7% in the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after buying an additional 1,894,301 shares during the period. Clearbridge Investments LLC lifted its holdings in Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock worth $29,367,000 after buying an additional 296,325 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Fluence Energy by 63.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company's stock valued at $24,940,000 after purchasing an additional 610,229 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Fluence Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company's stock worth $24,035,000 after purchasing an additional 5,216 shares during the period. 53.16% of the stock is owned by institutional investors.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction that occurred on Monday, May 12th. The shares were bought 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 now 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 SEC, which is available through the SEC website. 0.65% of the stock is currently owned by company insiders.

Fluence Energy Price Performance

Shares of NASDAQ FLNC traded down $0.16 during midday trading on Friday, reaching $6.14. The stock had a trading volume of 5,953,643 shares, compared to its average volume of 3,801,555. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -27.91 and a beta of 2.51. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $24.00. The stock has a 50-day moving average of $4.85 and a 200-day moving average of $8.23. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly 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). Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The business had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The company's quarterly revenue was down 30.7% on a year-over-year basis. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

FLNC has been the topic of several recent research reports. Morgan Stanley upped their price target on Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. UBS Group raised their price target on Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Robert W. Baird dropped their price target on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Canaccord Genuity Group reduced their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, HSBC downgraded shares of 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. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Fluence Energy currently has an average rating of "Hold" and a consensus target price of $7.88.

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.