Wexford Capital LP Takes $2.48 Million Position in Fluence Energy, Inc. (NASDAQ:FLNC)

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

A number of other hedge funds have also added to or reduced their stakes in FLNC. Webs Creek Capital Management LP bought a new position in Fluence Energy in the fourth quarter valued at $15,118,000. Covalis Capital LLP bought a new position in Fluence Energy in the fourth quarter valued at $12,113,000. Trexquant Investment LP grew its position in Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock valued at $13,918,000 after purchasing an additional 747,103 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Fluence Energy by 63.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company's stock valued at $24,940,000 after acquiring an additional 610,229 shares during the period. Finally, SIR Capital Management L.P. bought a new position in shares of Fluence Energy in the 4th quarter valued at about $9,605,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Trading Down 1.0%

Shares of NASDAQ:FLNC traded down $0.05 during trading on Friday, reaching $4.88. The stock had a trading volume of 3,314,147 shares, compared to its average volume of 3,676,334. The firm's fifty day moving average is $4.58 and its 200 day moving average is $10.65. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. Fluence Energy, Inc. has a 52 week low of $3.46 and a 52 week high of $26.12. The stock has a market cap of $885.96 million, a price-to-earnings ratio of -97.60 and a beta of 2.49.

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). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The firm had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. During the same period in the prior year, the company posted ($0.07) earnings per share. The company's revenue for the quarter was down 30.7% compared to the same quarter last year. As a group, equities analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold acquired 33,000 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the acquisition, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. This represents a 62.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now owns 115,861 shares of the company's stock, valued at approximately $626,808.01. The trade was a 9.45% increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

FLNC has been the subject of a number of analyst reports. Barclays reissued an "equal weight" rating and issued a $5.00 price objective (down previously from $9.00) on shares of Fluence Energy in a research report on Tuesday, April 8th. Truist Financial decreased their target price on shares of Fluence Energy from $28.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Citigroup dropped their target price on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Morgan Stanley boosted their target price on shares of Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Susquehanna dropped their target price on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8.21.

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.