Fluence Energy, Inc. (NASDAQ:FLNC) Holdings Lifted by Polar Capital Holdings Plc

Polar Capital Holdings Plc increased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 79.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 420,500 shares of the company's stock after purchasing an additional 186,000 shares during the period. Polar Capital Holdings Plc owned 0.23% of Fluence Energy worth $6,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Duff & Phelps Investment Management Co. boosted its position in Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock worth $432,000 after purchasing an additional 1,432 shares during the period. Lazard Freres Gestion S.A.S. lifted its holdings in Fluence Energy by 7.3% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock worth $352,000 after buying an additional 1,500 shares in the last quarter. KBC Group NV lifted its holdings in Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company's stock worth $1,720,000 after buying an additional 1,671 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Fluence Energy by 0.4% in the 4th quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock worth $6,988,000 after buying an additional 1,734 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Fluence Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after buying an additional 1,800 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Fluence Energy Stock Performance

FLNC traded down $0.15 on Wednesday, hitting $5.22. 1,103,509 shares of the company's stock were exchanged, compared to its average volume of 3,658,355. The firm has a market cap of $946.78 million, a PE ratio of -104.30 and a beta of 2.49. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $26.12. The stock has a fifty day moving average of $4.60 and a two-hundred day moving average of $10.93. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. Fluence Energy's revenue was down 30.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) EPS. On average, research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLNC. Mizuho began coverage on shares of Fluence Energy in a report on Wednesday, March 5th. They issued an "outperform" rating and a $8.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wolfe Research lowered shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a report on Wednesday, February 12th. Jefferies Financial Group lowered shares of Fluence Energy from a "hold" rating to an "underperform" rating and cut their price objective for the stock from $4.00 to $3.00 in a report on Thursday, May 15th. Finally, UBS Group boosted their price objective on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $8.21.

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.