Norges Bank Acquires Shares of 83,206 Fluence Energy, Inc. (NASDAQ:FLNC)

Norges Bank acquired a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 83,206 shares of the company’s stock, valued at approximately $1,321,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Lazard Freres Gestion S.A.S. lifted its position 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 valued at $352,000 after acquiring an additional 1,500 shares in the last quarter. KBC Group NV lifted its holdings in shares of 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 purchasing an additional 1,671 shares in the last quarter. Swiss National Bank boosted its position in shares of Fluence Energy by 1.4% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company’s stock valued at $2,014,000 after buying an additional 1,800 shares during the last quarter. New York State Common Retirement Fund grew its holdings in 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 buying an additional 2,400 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Fluence Energy by 2.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 161,207 shares of the company’s stock valued at $3,661,000 after buying an additional 3,395 shares during the last quarter. 53.16% of the stock is owned by institutional investors.

Insider Transactions at Fluence Energy

In other Fluence Energy news, CEO Julian Nebreda purchased 23,500 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased 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 approximately $764,889.25. The trade was a 24.24 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ahmed Pasha purchased 15,500 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $6.48 per share, with a total value of $100,440.00. Following the transaction, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. The trade was a 168.42 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 79,000 shares of company stock valued at $499,665. 0.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FLNC shares. Piper Sandler reduced their target price on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. cut shares of Fluence Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $7.00 in a research report on Friday. Roth Capital lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, UBS Group downgraded Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $28.00 to $8.00 in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Fluence Energy currently has an average rating of “Hold” and an average price target of $12.79.

Fluence Energy Trading Up 7.8 %

NASDAQ:FLNC opened at $4.16 on Friday. Fluence Energy, Inc. has a 1 year low of $3.63 and a 1 year high of $26.12. The stock’s fifty day moving average price is $6.00 and its two-hundred day moving average price is $14.10. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The company has a market cap of $755.24 million, a P/E ratio of -83.20 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (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%. As a group, analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current year.

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.