Dynamic Technology Lab Private Ltd Purchases 67,652 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Dynamic Technology Lab Private Ltd lifted its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 451.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,642 shares of the company's stock after buying an additional 67,652 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Fluence Energy were worth $1,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Fluence Energy by 185.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company's stock worth $49,000 after acquiring an additional 1,388 shares during the period. National Bank of Canada FI increased its holdings in shares of Fluence Energy by 116.3% during 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 raised its position in shares of Fluence Energy by 6,126.1% during the third quarter. Signaturefd LLC now owns 6,911 shares of the company's stock valued at $159,000 after buying an additional 6,800 shares during the last quarter. Amalgamated Bank raised its position in shares of Fluence Energy by 40.0% during the fourth quarter. Amalgamated Bank now owns 8,320 shares of the company's stock valued at $198,000 after buying an additional 2,376 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Fluence Energy in the fourth quarter valued at about $207,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLNC. The Goldman Sachs Group cut their price target on Fluence Energy from $32.00 to $26.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Susquehanna raised Fluence Energy from a "neutral" rating to a "positive" rating and set a $24.00 target price for the company in a research report on Monday, February 26th. Raymond James raised shares of Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Wednesday, April 3rd. Morgan Stanley reduced their price objective on shares of Fluence Energy from $32.00 to $30.00 and set an "equal weight" rating for the company in a report on Friday, May 10th. Finally, Evercore ISI lowered their target price on shares of Fluence Energy from $59.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.06.

Fluence Energy Stock Up 0.3 %

NASDAQ:FLNC traded up $0.06 during mid-day trading on Friday, reaching $18.32. 1,034,094 shares of the company were exchanged, compared to its average volume of 2,215,457. The stock has a market cap of $3.27 billion, a PE ratio of -46.97 and a beta of 2.48. Fluence Energy, Inc. has a 12 month low of $13.03 and a 12 month high of $31.32. The company has a fifty day moving average of $16.82 and a 200 day moving average of $19.17.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly 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 8.48%. The business had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. During the same quarter last year, the business posted ($0.21) earnings per share. Fluence Energy's revenue for the quarter was down 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fluence Energy, Inc. will post 0.14 EPS 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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