First Trust Advisors LP Buys 72,302 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

First Trust Advisors LP boosted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 856,268 shares of the company's stock after buying an additional 72,302 shares during the quarter. First Trust Advisors LP owned approximately 0.47% of Fluence Energy worth $13,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLNC. Morse Asset Management Inc acquired a new stake in Fluence Energy in the third quarter valued at approximately $175,000. Barclays PLC boosted its holdings in Fluence Energy by 296.8% in the 3rd quarter. Barclays PLC now owns 181,766 shares of the company's stock valued at $4,127,000 after purchasing an additional 135,957 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Fluence Energy by 11.8% in the 3rd quarter. Franklin Resources Inc. now owns 166,613 shares of the company's stock valued at $3,644,000 after buying an additional 17,551 shares during the period. Principal Financial Group Inc. acquired a new stake in Fluence Energy during the third quarter worth $5,742,000. Finally, JPMorgan Chase & Co. lifted its stake in Fluence Energy by 73.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company's stock worth $12,177,000 after acquiring an additional 227,549 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Wall Street Analyst Weigh In

FLNC has been the subject of several recent analyst reports. Susquehanna decreased their target price on Fluence Energy from $10.00 to $8.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Bank of America lowered shares of Fluence Energy from a "buy" rating to a "neutral" rating and reduced their target price for the company from $20.00 to $8.00 in a report on Thursday, February 13th. Jefferies Financial Group cut Fluence Energy from a "buy" rating to a "hold" rating and decreased their target price for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Wolfe Research lowered shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a report on Wednesday, February 12th. Finally, Hsbc Global Res downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of "Hold" and an average target price of $10.64.

Fluence Energy Price Performance

Shares of FLNC traded up $0.23 during midday trading on Friday, reaching $4.51. The stock had a trading volume of 776,364 shares, compared to its average volume of 3,433,906. 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 firm's 50 day moving average price is $4.74 and its 200-day moving average price is $12.43. Fluence Energy, Inc. has a 52 week low of $3.46 and a 52 week high of $26.12. The company has a market capitalization of $817.88 million, a P/E ratio of -89.90 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. On average, analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Julian Nebreda acquired 23,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the transaction, the chief executive officer now owns 120,455 shares of the company's stock, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herman E. Bulls bought 10,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now directly owns 115,861 shares in the company, 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. Insiders acquired 79,000 shares of company stock worth $499,665 over the last quarter. Corporate insiders own 0.65% of the company's stock.

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.