70,300 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Acquired by Seven Grand Managers LLC

Seven Grand Managers LLC acquired a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 70,300 shares of the company's stock, valued at approximately $1,677,000. Fluence Energy makes up about 1.6% of Seven Grand Managers LLC's investment portfolio, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLNC. Allspring Global Investments Holdings LLC boosted its stake in Fluence Energy by 185.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company's stock worth $49,000 after buying an additional 1,388 shares in the last quarter. National Bank of Canada FI raised its position in Fluence Energy by 116.3% in the 4th quarter. National Bank of Canada FI now owns 2,595 shares of the company's stock worth $62,000 after purchasing an additional 1,395 shares during the period. Signaturefd LLC lifted its stake in Fluence Energy by 6,126.1% in the third quarter. Signaturefd LLC now owns 6,911 shares of the company's stock worth $159,000 after acquiring an additional 6,800 shares during the period. SG Americas Securities LLC purchased a new position in shares of Fluence Energy during the third quarter valued at about $192,000. Finally, Amalgamated Bank raised its stake in Fluence Energy by 40.0% in the fourth quarter. Amalgamated Bank now owns 8,320 shares of the company's stock worth $198,000 after buying an additional 2,376 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Susquehanna upgraded Fluence Energy from a "neutral" rating to a "positive" rating and set a $24.00 target price on the stock in a report on Monday, February 26th. Raymond James upgraded Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a report on Wednesday, April 3rd. Morgan Stanley dropped their target price on shares of Fluence Energy from $32.00 to $30.00 and set an "equal weight" rating on the stock in a report on Friday. The Goldman Sachs Group decreased their price target on shares of Fluence Energy from $32.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Finally, Piper Sandler lowered their target price on shares of Fluence Energy from $20.00 to $18.00 and set a "neutral" rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.11.

Fluence Energy Trading Down 10.8 %

NASDAQ:FLNC traded down $2.02 during mid-day trading on Friday, reaching $16.73. The company's stock had a trading volume of 5,419,722 shares, compared to its average volume of 1,899,239. The stock has a market cap of $2.99 billion, a P/E ratio of -42.90 and a beta of 2.48. The firm's fifty day moving average price is $16.50 and its two-hundred day moving average price is $19.14. Fluence Energy, Inc. has a 12-month low of $13.03 and a 12-month high of $31.32.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.42%. The business had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. During the same period in the previous year, the business earned ($0.21) EPS. The company's quarterly revenue was down 10.7% compared to the same quarter last year. Analysts predict that Fluence Energy, Inc. will post 0.14 earnings per share for the current fiscal year.

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.