Wellington Management Group LLP Grows Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Wellington Management Group LLP raised its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 755,718 shares of the company's stock after buying an additional 171,836 shares during the quarter. Wellington Management Group LLP owned approximately 0.42% of Fluence Energy worth $12,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLNC. Altshuler Shaham Ltd purchased a new stake in shares of Fluence Energy during the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC raised its stake in shares of 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 purchasing an additional 4,921 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of Fluence Energy during the fourth quarter worth approximately $176,000. Envestnet Asset Management Inc. raised its stake in shares of 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 purchasing an additional 4,285 shares during the last quarter. Finally, Polymer Capital Management US LLC purchased a new stake in shares of Fluence Energy during the fourth quarter worth approximately $212,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of Fluence Energy stock in a transaction that occurred on Monday, May 12th. The shares were 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 owns 86,202 shares of the company's stock, valued at $508,591.80. This represents a 62.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial cut their price target on Fluence Energy from $28.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Susquehanna dropped their price objective on Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. lowered Fluence Energy from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $7.00 in a report on Friday, April 11th. Finally, Morgan Stanley upped their price objective on Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.12.

Fluence Energy Price Performance

Fluence Energy stock traded up $0.10 during trading hours on Friday, hitting $4.72. The stock had a trading volume of 1,786,272 shares, compared to its average volume of 3,633,972. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a market capitalization of $856.91 million, a price-to-earnings ratio of -94.40 and a beta of 2.51. Fluence Energy, Inc. has a 1-year low of $3.46 and a 1-year high of $25.13. The stock's fifty day moving average is $4.48 and its two-hundred day moving average is $9.57.

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

Fluence Energy Company 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.