XTX Topco Ltd Acquires 262,657 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Key Points

• XTX Topco Ltd increased its stake in Fluence Energy by 454.9% during the first quarter, owning 320,399 shares valued at approximately $1.55 million.
• In a recent earnings report, Fluence Energy missed analysts' EPS estimates, reporting a loss of ($0.24) against the expected ($0.21) per share.
• Analyst ratings for Fluence Energy are mixed, with an average rating of "Hold" and a target price of $7.98 amid fluctuations in stock price expectations.

XTX Topco Ltd increased its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 454.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 320,399 shares of the company's stock after purchasing an additional 262,657 shares during the period. XTX Topco Ltd owned about 0.18% of Fluence Energy worth $1,554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zimmer Partners LP increased its position in Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after purchasing an additional 1,894,301 shares during the last quarter. Webs Creek Capital Management LP bought a new position in Fluence Energy in the 4th quarter worth $15,118,000. Edgestream Partners L.P. acquired a new stake in shares of Fluence Energy in the first quarter valued at about $4,180,000. Covalis Capital LLP acquired a new position in shares of Fluence Energy during the 4th quarter worth about $12,113,000. Finally, Point72 Asset Management L.P. increased its position in 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 worth $24,940,000 after buying an additional 610,229 shares during the period. Institutional investors and hedge funds own 53.16% of the company's stock.

Insider Activity

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $5.90 per share, with a total value of $194,700.00. Following the acquisition, the director owned 86,202 shares of the company's stock, valued at $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company's stock.

Fluence Energy Stock Up 0.4%

FLNC traded up $0.04 during trading hours on Tuesday, hitting $8.52. 1,884,555 shares of the company's stock were exchanged, compared to its average volume of 5,300,045. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. Fluence Energy, Inc. has a 1-year low of $3.46 and a 1-year high of $24.00. The stock's 50-day moving average is $6.89 and its two-hundred day moving average is $6.61. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -38.66 and a beta of 2.67.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). The company had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. Fluence Energy's revenue was down 30.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. Sell-side analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLNC has been the topic of several research reports. Robert W. Baird lowered their price target on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Seaport Res Ptn cut Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. HSBC lowered shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a research report on Monday, April 28th. Barclays raised their price target on Fluence Energy from $5.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Susquehanna lifted their target price on shares of Fluence Energy from $6.00 to $11.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Fluence Energy has a consensus rating of "Hold" and a consensus price target of $7.98.

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.