Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 67.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,454 shares of the company's stock after selling 361,730 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.10% of Fluence Energy worth $2,770,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Sanders Morris Harris LLC purchased a new position in shares of Fluence Energy during the 4th quarter valued at approximately $812,000. Cidel Asset Management Inc. acquired a new position in Fluence Energy during the fourth quarter worth $350,000. SG Americas Securities LLC lifted its holdings in Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock valued at $776,000 after purchasing an additional 21,597 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Fluence Energy in the fourth quarter valued at about $1,429,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy in the third quarter valued at about $5,742,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Julian Nebreda bought 23,500 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the acquisition, the chief executive officer now owns 120,455 shares of the company's stock, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Herman E. Bulls bought 30,000 shares of the business's stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the transaction, the director now owns 105,861 shares of the company's stock, valued at $691,272.33. This trade represents a 39.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 79,000 shares of company stock valued at $499,665. Company insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLNC. Barclays reaffirmed an "equal weight" rating and issued a $5.00 price target (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. Robert W. Baird decreased their target price on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Mizuho started coverage on Fluence Energy in a research report on Wednesday, March 5th. They set an "outperform" rating and a $8.00 price target for the company. UBS Group decreased their price objective on Fluence Energy from $8.00 to $4.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada cut shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $25.00 to $7.00 in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.95.

Fluence Energy Trading Up 6.9 %

Fluence Energy stock traded up $0.27 during mid-day trading on Friday, hitting $4.18. The company's stock had a trading volume of 4,467,636 shares, compared to its average volume of 3,413,175. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $26.12. 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 firm has a market capitalization of $758.87 million, a PE ratio of -83.60 and a beta of 2.48. The stock's fifty day moving average is $5.02 and its two-hundred day moving average is $13.02.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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, 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.