DNB Asset Management AS Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

DNB Asset Management AS purchased a new position in Fluence Energy, Inc. (NASDAQ:FLNCFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,921 shares of the company’s stock, valued at approximately $666,000.

Several other institutional investors have also modified their holdings of the business. Ameritas Investment Partners Inc. grew its stake in shares of Fluence Energy by 20.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,251 shares of the company’s stock worth $87,000 after acquiring an additional 556 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Fluence Energy by 6.7% during the 1st quarter. Advisors Asset Management Inc. now owns 9,939 shares of the company’s stock worth $201,000 after purchasing an additional 622 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Fluence Energy by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 13,233 shares of the company’s stock worth $269,000 after purchasing an additional 970 shares during the last quarter. LPL Financial LLC lifted its position in shares of Fluence Energy by 6.5% during the 3rd quarter. LPL Financial LLC now owns 16,810 shares of the company’s stock worth $386,000 after purchasing an additional 1,026 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Fluence Energy during the 3rd quarter worth $27,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Up 4.0 %

Shares of Fluence Energy stock opened at $14.99 on Thursday. Fluence Energy, Inc. has a 52-week low of $13.03 and a 52-week high of $31.32. The company’s 50-day simple moving average is $18.06 and its 200-day simple moving average is $20.58. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -28.28 and a beta of 2.55.

Fluence Energy (NASDAQ:FLNCGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The firm had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. During the same quarter last year, the firm earned ($0.21) earnings per share. The company’s revenue was up 17.2% compared to the same quarter last year. Equities research analysts anticipate that Fluence Energy, Inc. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price objective for the company in a research report on Monday, February 26th. Bank of America boosted their price target on shares of Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. The Goldman Sachs Group reduced their price target on shares of Fluence Energy from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, February 9th. Piper Sandler boosted their price target on shares of Fluence Energy from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, November 30th. Finally, Roth Mkm raised shares of Fluence Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $27.00 to $31.00 in a research report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.33.

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Fluence Energy Profile

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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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Institutional Ownership by Quarter for Fluence Energy (NASDAQ:FLNC)

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