Wexford Capital LP Takes Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Wexford Capital LP bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 156,194 shares of the company's stock, valued at approximately $2,480,000. Wexford Capital LP owned about 0.09% of Fluence Energy at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FLNC. Barclays PLC lifted its position in shares of Fluence Energy by 296.8% during the 3rd quarter. Barclays PLC now owns 181,766 shares of the company's stock valued at $4,127,000 after buying an additional 135,957 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Fluence Energy during the 4th quarter valued at $79,000. Mandatum Life Insurance Co Ltd purchased a new position in shares of Fluence Energy during the 4th quarter valued at $2,617,000. SG Americas Securities LLC lifted its position in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock valued at $776,000 after buying an additional 21,597 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Fluence Energy during the 4th quarter valued at $340,000. 53.16% of the stock is currently owned by institutional investors.

Insider Transactions at Fluence Energy

In related news, Director Cynthia A. Arnold acquired 33,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were acquired 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 directly owns 86,202 shares in the company, valued at approximately $508,591.80. This trade represents a 62.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herman E. Bulls acquired 10,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, the director now owns 115,861 shares of the company's stock, valued at approximately $626,808.01. This trade represents a 9.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company's stock.

Fluence Energy Stock Performance

NASDAQ:FLNC traded down $0.08 during mid-day trading on Thursday, hitting $4.93. 3,759,234 shares of the company traded hands, compared to its average volume of 3,673,073. The stock's fifty day moving average price is $4.59 and its 200-day moving average price is $10.77. Fluence Energy, Inc. has a one year low of $3.46 and a one year high of $26.12. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The firm has a market cap of $895.04 million, a price-to-earnings ratio of -98.60 and a beta of 2.49.

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

Analysts Set New Price Targets

FLNC has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut 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. Bank of America cut Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $20.00 to $8.00 in a report on Thursday, February 13th. Canaccord Genuity Group dropped their price objective on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Roth Mkm lowered Fluence Energy from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada lowered Fluence Energy from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $25.00 to $7.00 in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $8.21.

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.