DekaBank Deutsche Girozentrale Buys 275,489 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

DekaBank Deutsche Girozentrale raised its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 43.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909,841 shares of the company's stock after buying an additional 275,489 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.51% of Fluence Energy worth $22,364,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Fluence Energy during the 4th quarter valued at $270,000. Arizona State Retirement System increased its holdings in shares of Fluence Energy by 50.6% in the 4th quarter. Arizona State Retirement System now owns 17,547 shares of the company's stock valued at $418,000 after acquiring an additional 5,895 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Fluence Energy by 6.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company's stock valued at $326,000 after acquiring an additional 849 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Fluence Energy during the 4th quarter worth $207,000. Finally, Renaissance Capital LLC grew its stake in Fluence Energy by 88.8% during the 4th quarter. Renaissance Capital LLC now owns 37,132 shares of the company's stock worth $886,000 after buying an additional 17,460 shares during the last quarter. 53.16% of the stock is owned by institutional investors.

Fluence Energy Price Performance

Shares of FLNC stock traded up $0.08 during midday trading on Monday, reaching $16.69. 811,711 shares of the company traded hands, compared to its average volume of 2,392,124. Fluence Energy, Inc. has a 1-year low of $13.03 and a 1-year high of $31.32. The firm has a market cap of $2.98 billion, a PE ratio of -31.49 and a beta of 2.57. The firm's 50 day simple moving average is $17.03 and its two-hundred day simple moving average is $19.73.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The business had revenue of $363.96 million for the quarter, compared to analysts' expectations of $403.93 million. During the same period last year, the company posted ($0.21) earnings per share. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on FLNC shares. Raymond James upgraded Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a research note on Wednesday, April 3rd. Royal Bank of Canada boosted their price target on Fluence Energy from $32.00 to $33.00 and gave the company an "outperform" rating in a research note on Monday, December 11th. JPMorgan Chase & Co. upgraded Fluence Energy from a "neutral" rating to an "overweight" rating and set a $23.00 price target on the stock in a research note on Friday, February 23rd. BMO Capital Markets upgraded Fluence Energy from a "market perform" rating to an "outperform" rating and set a $27.00 price target on the stock in a research note on Tuesday, January 16th. Finally, The Goldman Sachs Group dropped their price target on Fluence Energy from $32.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.83.

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.