Vanguard Group Inc. lifted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,916,034 shares of the company's stock after purchasing an additional 98,541 shares during the quarter. Vanguard Group Inc. owned 2.20% of Fluence Energy worth $90,030,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI purchased a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $27,000. Point72 Hong Kong Ltd purchased a new position in shares of Fluence Energy during the 2nd quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC lifted its position in shares of Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company's stock valued at $49,000 after buying an additional 1,388 shares in the last quarter. Quarry LP lifted its position in shares of Fluence Energy by 342.2% during the 1st quarter. Quarry LP now owns 2,401 shares of the company's stock valued at $49,000 after buying an additional 1,858 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Fluence Energy by 107.9% in the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company's stock valued at $56,000 after purchasing an additional 3,083 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on FLNC shares. The Goldman Sachs Group decreased their price objective on Fluence Energy from $32.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. Morgan Stanley raised their price objective on Fluence Energy from $27.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, December 8th. Bank of America raised their price objective on Fluence Energy from $26.00 to $28.00 and gave the company a "buy" rating in a report on Thursday, January 4th. JPMorgan Chase & Co. upgraded Fluence Energy from a "neutral" rating to an "overweight" rating and set a $23.00 price objective on the stock in a report on Friday, February 23rd. Finally, Susquehanna upgraded Fluence Energy from a "neutral" rating to a "positive" rating and set a $24.00 price objective on the stock in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $28.63.
Read Our Latest Research Report on FLNC
Fluence Energy Price Performance
Shares of NASDAQ:FLNC traded down $0.09 during midday trading on Friday, reaching $16.61. 1,011,161 shares of the company's stock were exchanged, compared to its average volume of 1,910,967. The firm's 50 day simple moving average is $17.12 and its two-hundred day simple moving average is $19.80. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -31.34 and a beta of 2.57. Fluence Energy, Inc. has a fifty-two week low of $13.03 and a fifty-two week high of $31.32.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The firm's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. Equities research analysts predict that Fluence Energy, Inc. will post 0.14 earnings per share for the current fiscal year.
Fluence Energy Profile
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Free Report)
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.
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