Two Sigma Investments LP Raises Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

Two Sigma Investments LP lifted its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 725.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,507 shares of the company's stock after buying an additional 107,674 shares during the period. Two Sigma Investments LP owned approximately 0.07% of Fluence Energy worth $1,945,000 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 the company. Altshuler Shaham Ltd purchased a new position in Fluence Energy in the fourth quarter worth about $34,000. Tower Research Capital LLC TRC lifted its stake in shares of Fluence Energy by 827.1% in 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 period. Blueshift Asset Management LLC bought a new position in shares of Fluence Energy in the 4th quarter worth approximately $176,000. Envestnet Asset Management Inc. lifted its stake in shares of Fluence Energy by 47.4% in 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 period. Finally, Polymer Capital Management US LLC bought a new position in shares of Fluence Energy in the 4th quarter worth approximately $212,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Price Performance

Shares of FLNC stock traded down $0.23 on Thursday, reaching $4.62. The company's stock had a trading volume of 4,857,790 shares, compared to its average volume of 3,635,093. The stock's fifty day simple moving average is $4.48 and its 200-day simple moving average is $9.68. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $25.13. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $838.76 million, a price-to-earnings ratio of -92.40 and a beta of 2.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share 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 business had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. During the same period last year, the business posted ($0.07) earnings per share. The company's revenue for the quarter was down 30.7% compared to the same quarter last year. Analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FLNC. Royal Bank of Canada cut shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $25.00 to $7.00 in a research note on Wednesday, February 12th. Citigroup lowered their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. HSBC cut shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a research note on Monday, April 28th. Finally, Hsbc Global Res cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.12.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the completion of the acquisition, the director now owns 86,202 shares in the company, valued at $508,591.80. This trade represents a 62.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by insiders.

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.