Point72 Asset Management L.P. Raises Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Point72 Asset Management L.P. raised its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 63.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,570,550 shares of the company's stock after acquiring an additional 610,229 shares during the period. Point72 Asset Management L.P. owned about 0.87% of Fluence Energy worth $24,940,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its position in Fluence Energy by 296.8% during the third quarter. Barclays PLC now owns 181,766 shares of the company's stock worth $4,127,000 after purchasing an additional 135,957 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in Fluence Energy in the fourth quarter valued at about $79,000. Mandatum Life Insurance Co Ltd acquired a new position in Fluence Energy during the fourth quarter worth about $2,617,000. SG Americas Securities LLC raised its stake in Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock worth $776,000 after acquiring an additional 21,597 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Fluence Energy during the fourth quarter worth about $340,000. Institutional investors own 53.16% of the company's stock.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the acquisition, the director now owns 115,861 shares of the company's stock, valued at $626,808.01. This trade represents a 9.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Cynthia A. Arnold acquired 33,000 shares of the business's stock in a transaction dated 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 now directly owns 86,202 shares of the company's stock, valued at $508,591.80. This represents a 62.03% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.65% of the company's stock.

Fluence Energy Stock Performance

FLNC traded up $0.09 during trading hours on Tuesday, hitting $5.36. The stock had a trading volume of 3,504,384 shares, compared to its average volume of 3,668,373. The company's fifty day simple moving average is $4.60 and its 200 day simple moving average is $10.93. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $26.12. The stock has a market cap of $973.10 million, a PE ratio of -107.20 and a beta of 2.49. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

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

Analysts Set New Price Targets

FLNC has been the subject of several recent research reports. The Goldman Sachs Group lowered their price objective on Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Robert W. Baird lowered their price objective on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Roth Mkm downgraded Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. Roth Capital downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut Fluence Energy from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $14.00 to $7.00 in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target 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.