Commonwealth Equity Services LLC Increases Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

Commonwealth Equity Services LLC increased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 52.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,763 shares of the company’s stock after buying an additional 17,437 shares during the period. Commonwealth Equity Services LLC’s holdings in Fluence Energy were worth $806,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lazard Freres Gestion S.A.S. lifted its position in shares of Fluence Energy by 7.3% during 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 during the last quarter. KBC Group NV lifted its position in Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after acquiring an additional 1,671 shares during the last quarter. Swiss National Bank boosted its stake in Fluence Energy by 1.4% in the fourth quarter. Swiss National Bank now owns 126,800 shares of the company’s stock valued at $2,014,000 after acquiring an additional 1,800 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Fluence Energy by 14.5% during the fourth quarter. New York State Common Retirement Fund now owns 18,995 shares of the company’s stock worth $302,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLNC. Wolfe Research cut shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Morgan Stanley lowered their price target on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Susquehanna reduced their price objective on Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a research note on Wednesday, February 12th. Finally, Roth Mkm downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.34.

Insider Buying and Selling at Fluence Energy

In other news, CEO Julian Nebreda acquired 23,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $6.35 per share, with a total value of $149,225.00. Following the acquisition, the chief executive officer now directly owns 120,455 shares in the company, valued at $764,889.25. The trade was a 24.24 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now directly 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 disclosure for this purchase can be found here. Insiders bought a total of 79,000 shares of company stock worth $499,665 over the last three months. Corporate insiders own 0.65% of the company’s stock.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $4.86 on Thursday. Fluence Energy, Inc. has a 52-week low of $4.61 and a 52-week high of $26.12. The stock has a market cap of $882.33 million, a PE ratio of -97.20 and a beta of 2.49. The firm has a 50-day moving average of $7.63 and a 200-day moving average of $15.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. On average, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

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.