Nicholas Investment Partners LP Has $7.83 Million Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Nicholas Investment Partners LP lessened its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 31.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 328,405 shares of the company's stock after selling 148,123 shares during the quarter. Fluence Energy comprises about 0.9% of Nicholas Investment Partners LP's investment portfolio, making the stock its 29th largest holding. Nicholas Investment Partners LP owned about 0.19% of Fluence Energy worth $7,832,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Fluence Energy by 185.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company's stock valued at $49,000 after purchasing an additional 1,388 shares in the last quarter. National Bank of Canada FI increased its stake 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 valued at $62,000 after buying an additional 1,395 shares during the last quarter. Signaturefd LLC lifted its position in Fluence Energy by 6,126.1% during the 3rd quarter. Signaturefd LLC now owns 6,911 shares of the company's stock worth $159,000 after buying an additional 6,800 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Fluence Energy during the 3rd quarter worth about $192,000. Finally, Amalgamated Bank grew its holdings in shares of Fluence Energy by 40.0% in the 4th quarter. Amalgamated Bank now owns 8,320 shares of the company's stock valued at $198,000 after acquiring an additional 2,376 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLNC has been the topic of a number of recent analyst reports. Raymond James raised Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Wednesday, April 3rd. 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. Evercore ISI reduced their price objective on shares of Fluence Energy from $59.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday. BMO Capital Markets raised shares of Fluence Energy from a "market perform" rating to an "outperform" rating and set a $27.00 price objective on the stock in a research report on Tuesday, January 16th. Finally, Susquehanna raised shares of Fluence Energy from a "neutral" rating to a "positive" rating and set a $24.00 target price for the company in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.06.

Fluence Energy Trading Up 0.5 %

NASDAQ:FLNC traded up $0.09 during trading hours on Wednesday, hitting $18.53. 1,762,678 shares of the company were exchanged, compared to its average volume of 2,278,455. The company has a fifty day simple moving average of $16.62 and a 200 day simple moving average of $19.14. Fluence Energy, Inc. has a one year low of $13.03 and a one year high of $31.32. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -47.28 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) EPS 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 8.48%. The company had revenue of $623.14 million for the quarter, compared to analyst estimates of $538.42 million. During the same period in the prior year, the firm posted ($0.21) EPS. The company's quarterly revenue was down 10.7% on a year-over-year basis. Equities research analysts predict that Fluence Energy, Inc. will post 0.15 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.

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