Point72 Europe London LLP Purchases New Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Point72 Europe London LLP purchased a new stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 119,000 shares of the company's stock, valued at approximately $1,890,000. Point72 Europe London LLP owned about 0.07% of Fluence Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new stake in Fluence Energy in the 4th quarter valued at $34,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $79,000. Tower Research Capital LLC TRC raised its holdings in shares of Fluence Energy by 827.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock valued at $88,000 after buying an additional 4,921 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Fluence Energy during the fourth quarter worth about $176,000. Finally, Envestnet Asset Management Inc. increased its position in Fluence Energy by 47.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after acquiring an additional 4,285 shares during the period. Institutional investors and hedge funds own 53.16% of the company's stock.

Fluence Energy Trading Down 2.6%

Shares of NASDAQ FLNC traded down $0.14 during midday trading on Monday, reaching $5.27. 3,648,513 shares of the stock were exchanged, compared to its average volume of 3,659,301. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $956.76 million, a P/E ratio of -105.40 and a beta of 2.49. The stock has a 50 day moving average price of $4.60 and a 200-day moving average price of $10.97. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The business had revenue of $431.62 million for the quarter, compared to analysts' expectations of $328.17 million. During the same quarter last year, the company posted ($0.07) earnings per share. The business's quarterly revenue was down 30.7% compared to the same quarter last year. Equities research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now owns 115,861 shares of the company's stock, valued at $626,808.01. This trade represents a 9.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Cynthia A. Arnold bought 33,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. This represents a 62.03% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FLNC. Roth Capital downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Truist Financial lowered their price objective on shares of Fluence Energy from $28.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. HSBC downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price objective for the company. in a research report on Monday, April 28th. Robert W. Baird lowered their price objective on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Bank of America downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $20.00 to $8.00 in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.21.

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.