Raymond James Financial Inc. Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Raymond James Financial Inc. bought a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 76,863 shares of the company's stock, valued at approximately $1,221,000.

Other institutional investors have also recently made changes to their positions in the company. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy during the fourth quarter valued at approximately $79,000. Blueshift Asset Management LLC purchased a new stake in Fluence Energy during the 4th quarter valued at $176,000. Envestnet Asset Management Inc. lifted its holdings in shares of Fluence Energy by 47.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after buying an additional 4,285 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of Fluence Energy in the 4th quarter worth $212,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Fluence Energy in the fourth quarter worth $213,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Trading Up 7.5 %

FLNC traded up $0.31 during trading hours on Wednesday, reaching $4.50. 8,597,723 shares of the company's stock traded hands, compared to its average volume of 3,471,615. The firm has a 50-day moving average price of $4.63 and a 200 day moving average price of $12.01. The firm has a market capitalization of $817.70 million, a PE ratio of -90.08 and a beta of 2.49. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a 52-week low of $3.31 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, sell-side analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on FLNC. Barclays restated an "equal weight" rating and set a $5.00 price target (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. BMO Capital Markets cut shares of Fluence Energy from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $22.00 to $10.00 in a report on Tuesday, February 11th. Susquehanna dropped their price target on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered Fluence Energy from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.64.

Insider Transactions at Fluence Energy

In other news, CEO Julian Nebreda purchased 23,500 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $6.35 per share, with a total value of $149,225.00. Following the transaction, the chief executive officer now owns 120,455 shares of the company's stock, valued at $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herman E. Bulls acquired 10,000 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 115,861 shares of the company's stock, valued at $626,808.01. This represents a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 79,000 shares of company stock valued at $499,665. 0.65% of the stock is currently owned by company insiders.

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.