Fluence Energy, Inc. (NASDAQ:FLNC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,508,003 shares of the company's stock after acquiring an additional 60,633 shares during the quarter. Geode Capital Management LLC owned approximately 0.84% of Fluence Energy worth $34,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PARK CIRCLE Co acquired a new position in shares of Fluence Energy in the 2nd quarter valued at about $28,000. US Bancorp DE increased its holdings in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $38,000 after purchasing an additional 1,475 shares in the last quarter. CWM LLC boosted its holdings in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Fluence Energy during the 3rd quarter worth approximately $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $87,000. Institutional investors own 53.16% of the company's stock.

Insiders Place Their Bets

In other news, Director Herman E. Bulls purchased 10,000 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares of the company's stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BNP Paribas raised shares of Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price target for the company in a research note on Friday, November 8th. Truist Financial upped their price target on Fluence Energy from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Bank of America reduced their price objective on Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Robert W. Baird reaffirmed a "neutral" rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Finally, Baird R W downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $26.65.

Fluence Energy Trading Down 2.0 %

FLNC stock traded down $0.33 during trading on Thursday, reaching $15.80. 1,499,071 shares of the stock were exchanged, compared to its average volume of 2,365,227. Fluence Energy, Inc. has a 1 year low of $12.74 and a 1 year high of $26.12. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 121.54, a P/E/G ratio of 0.54 and a beta of 2.39. The business has a 50 day moving average price of $19.29 and a 200-day moving average price of $19.01.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company's revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. On average, research analysts anticipate that Fluence Energy, Inc. will post 0.56 EPS for the current year.

Fluence Energy Company 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.