Raymond James Financial Services Advisors Inc. Takes Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Raymond James Financial Services Advisors Inc. bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,673 shares of the company’s stock, valued at approximately $207,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Fluence Energy by 146.9% during the third quarter. FMR LLC now owns 3,959,313 shares of the company’s stock valued at $91,025,000 after purchasing an additional 2,355,849 shares during the last quarter. Schroder Investment Management Group grew its holdings in Fluence Energy by 65.2% during the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after purchasing an additional 1,063,609 shares during the last quarter. Wellington Management Group LLP acquired a new position in Fluence Energy during the third quarter valued at approximately $5,916,000. Handelsbanken Fonder AB grew its holdings in Fluence Energy by 23.9% during the third quarter. Handelsbanken Fonder AB now owns 1,173,244 shares of the company’s stock valued at $26,973,000 after purchasing an additional 226,419 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in Fluence Energy during the third quarter valued at approximately $3,621,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $16.84 on Thursday. The business has a fifty day moving average of $15.98 and a two-hundred day moving average of $19.27. Fluence Energy, Inc. has a 52-week low of $13.03 and a 52-week high of $31.32. The stock has a market cap of $3.01 billion, a PE ratio of -31.77 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last released 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 net margin of 2.72% and a negative return on equity of 11.18%. The business had revenue of $363.96 million during the quarter, compared to the consensus estimate of $403.93 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts predict that Fluence Energy, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

FLNC has been the topic of several research analyst reports. Piper Sandler lowered their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. The Goldman Sachs Group lowered their price objective on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price objective on the stock in a research note on Monday, February 26th. Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and a consensus target price of $28.56.

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.