Tidal Investments LLC Has $4.13 Million Stock Holdings in Fluence Energy, Inc. $FLNC

Key Points

• Tidal Investments increased its Fluence Energy stake by 126.7% in the second quarter, owning 207,694 shares worth approximately $4.13 million. Institutional investors and hedge funds collectively hold 53.16% of the company.
• Analyst sentiment is mixed, with Fluence receiving a consensus “Hold” rating and an average price target of $16.89; ratings range from “Strong Sell” to “Buy.”
• Fluence reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below the $818.57 million consensus estimate. Shares opened at $9.41, near their $7.09 one-year low and well below the $33.51 high.

Tidal Investments LLC grew its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 126.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 207,694 shares of the company's stock after acquiring an additional 116,064 shares during the quarter. Tidal Investments LLC owned 0.11% of Fluence Energy worth $4,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Fluence Energy by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock worth $38,000 after purchasing an additional 672 shares during the last quarter. Sei Investments Co. increased its stake in Fluence Energy by 4.5% in the 1st quarter. Sei Investments Co. now owns 16,222 shares of the company's stock valued at $223,000 after buying an additional 703 shares during the last quarter. IFP Advisors Inc increased its stake in Fluence Energy by 184.1% in the 2nd quarter. IFP Advisors Inc now owns 1,540 shares of the company's stock valued at $31,000 after buying an additional 998 shares during the last quarter. Strs Ohio lifted its position in Fluence Energy by 10.4% during the 1st quarter. Strs Ohio now owns 14,900 shares of the company's stock worth $205,000 after buying an additional 1,400 shares in the last quarter. Finally, Curio Wealth LLC bought a new stake in Fluence Energy during the 4th quarter worth about $31,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FLNC. Truist Financial started coverage on Fluence Energy in a report on Monday, July 13th. They issued a "hold" rating and a $16.00 price objective for the company. Canaccord Genuity Group set a $24.00 target price on Fluence Energy in a report on Friday, August 7th. Zacks Research cut Fluence Energy from a "hold" rating to a "strong sell" rating in a research report on Thursday, September 10th. Glj Research downgraded Fluence Energy from a "buy" rating to a "hold" rating and decreased their price target for the company from $26.00 to $12.89 in a research note on Thursday, August 20th. Finally, Morgan Stanley set a $15.00 price target on Fluence Energy in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat, Fluence Energy has a consensus rating of "Hold" and a consensus price target of $16.89.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $9.41 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -15.43 and a beta of 2.74. The stock's fifty day moving average price is $12.81 and its two-hundred day moving average price is $16.13. Fluence Energy, Inc. has a one year low of $7.09 and a one year high of $33.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The business had revenue of $649.85 million during the quarter, compared to the consensus estimate of $818.57 million. During the same period in the previous year, the firm posted $0.01 EPS. The company's revenue was up 7.9% compared to the same quarter last year. On average, equities analysts forecast that Fluence Energy, Inc. will post -0.51 EPS for the current year.

Insider Buying and Selling at Fluence Energy

In related news, SVP John Zahurancik sold 15,974 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $22.03, for a total value of $351,907.22. Following the completion of the sale, the senior vice president directly owned 71,171 shares in the company, valued at approximately $1,567,897.13. The trade was a 18.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.69% of the company's stock.

Fluence Energy Company Profile

Fluence Energy, Inc is a global energy storage and software company that develops solutions to support the transition to cleaner and more reliable electricity systems. The company provides products and services for utilities, renewable energy developers, commercial and industrial customers, and other power market participants.

Its offerings include large-scale battery energy storage systems, renewable energy integration solutions, and digital applications for managing and optimizing energy assets.

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