Covalis Capital LLP Takes $12.11 Million Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Covalis Capital LLP purchased a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 762,781 shares of the company's stock, valued at approximately $12,113,000. Fluence Energy makes up approximately 1.8% of Covalis Capital LLP's holdings, making the stock its 22nd largest position. Covalis Capital LLP owned 0.42% of Fluence Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. lifted its stake in shares of Fluence Energy by 5.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock valued at $432,000 after purchasing an additional 1,432 shares during the period. Lazard Freres Gestion S.A.S. grew its holdings in shares of 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 buying an additional 1,500 shares during the period. KBC Group NV raised its stake in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company's stock worth $1,720,000 after buying an additional 1,671 shares during the period. Swiss National Bank increased its stake in Fluence Energy by 1.4% during the 4th quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in Fluence Energy in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 53.16% of the company's stock.

Insiders Place Their Bets

In other Fluence Energy news, CFO Ahmed Pasha bought 15,500 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the transaction, the chief financial officer now directly owns 24,703 shares in the company, valued at $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Julian Nebreda purchased 23,500 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the purchase, the chief executive officer now directly owns 120,455 shares in the company, valued at approximately $764,889.25. This trade represents a 24.24 % 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 valued at $499,665 over the last 90 days. Insiders own 0.65% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price 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. Piper Sandler lowered their target price on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a report on Monday. Guggenheim cut their price target on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Barclays reiterated an "equal weight" rating and issued a $5.00 target price (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. Finally, UBS Group lowered their price target on Fluence Energy from $8.00 to $4.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $11.14.

Fluence Energy Price Performance

Shares of Fluence Energy stock traded up $0.20 on Thursday, reaching $3.87. The stock had a trading volume of 1,883,126 shares, compared to its average volume of 3,385,037. The company has a market cap of $701.69 million, a P/E ratio of -77.30 and a beta of 2.48. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The business's 50 day moving average is $5.07 and its two-hundred day moving average is $13.14. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) 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%. As a group, research 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.