Fluence Energy, Inc. (NASDAQ:FLNC) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 755,718 shares of the company's stock after purchasing an additional 171,836 shares during the quarter. Wellington Management Group LLP owned about 0.42% of Fluence Energy worth $12,001,000 as of its most recent SEC filing.

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 during the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC increased its holdings in shares of Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock valued at $88,000 after purchasing an additional 4,921 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Fluence Energy in the 4th quarter valued at $176,000. Envestnet Asset Management Inc. boosted its holdings in Fluence Energy by 47.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock worth $211,000 after buying an additional 4,285 shares in the last quarter. Finally, Polymer Capital Management US LLC acquired a new stake in Fluence Energy during the fourth quarter valued at $212,000. Institutional investors and hedge funds own 53.16% of the company's stock.

Insider Activity at Fluence Energy

In related news, Director Cynthia A. Arnold bought 33,000 shares of the stock in a transaction on Monday, May 12th. The stock was bought at an average price of $5.90 per share, with a total value of $194,700.00. Following the completion of the purchase, the director now directly owns 86,202 shares in the company, valued at $508,591.80. This represents a 62.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by insiders.

Fluence Energy Trading Up 1.7%

Fluence Energy stock traded up $0.08 during midday trading on Wednesday, hitting $4.85. 3,595,610 shares of the stock were exchanged, compared to its average volume of 3,631,304. 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 stock has a market capitalization of $880.51 million, a price-to-earnings ratio of -97.00 and a beta of 2.49. The stock's 50-day simple moving average is $4.49 and its 200 day simple moving average is $9.82. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $25.13.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted 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 business had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. Fluence Energy's revenue for the quarter was down 30.7% compared to the same quarter last year. On average, equities analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Analysts Set New Price Targets

FLNC has been the topic of several recent analyst reports. Mizuho lowered their target price on shares of Fluence Energy from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Monday. Canaccord Genuity Group decreased their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Susquehanna decreased their price target on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. BMO Capital Markets lowered Fluence Energy from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, 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. Two equities 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 data from MarketBeat, Fluence Energy has an average rating of "Hold" and an average target price of $8.12.

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.