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

Point72 Asset Management L.P. increased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 63.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,570,550 shares of the company's stock after purchasing an additional 610,229 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.87% of Fluence Energy worth $24,940,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in shares of Fluence Energy during the 4th quarter valued at approximately $34,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy in the 4th quarter valued at about $79,000. Tower Research Capital LLC TRC grew its position in Fluence Energy by 827.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after acquiring an additional 4,921 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Fluence Energy during the fourth quarter worth approximately $176,000. Finally, Envestnet Asset Management Inc. raised its position in Fluence Energy by 47.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after purchasing an additional 4,285 shares during the period. Institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Down 2.3%

FLNC traded down $0.12 during trading on Thursday, hitting $4.90. The stock had a trading volume of 1,974,305 shares, compared to its average volume of 3,666,450. The stock has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $10.89. 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 twelve month low of $3.46 and a twelve month high of $26.12. The company has a market capitalization of $888.68 million, a PE ratio of -98.10 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results 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). The business had revenue of $431.62 million for the quarter, compared to analysts' expectations of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The firm's quarterly revenue was down 30.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. On average, research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLNC. Roth Mkm lowered Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price target for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Citigroup reduced their target price on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Roth Capital cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Piper Sandler cut their price target on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Royal Bank of Canada downgraded shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $25.00 to $7.00 in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned 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.