Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by Fmr LLC

FMR LLC raised its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,606,100 shares of the company's stock after purchasing an additional 132,868 shares during the quarter. FMR LLC owned 0.89% of Fluence Energy worth $36,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Fluence Energy by 10.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,689 shares of the company's stock worth $394,000 after purchasing an additional 2,081 shares during the period. Comerica Bank lifted its position in shares of Fluence Energy by 79.1% during the 1st quarter. Comerica Bank now owns 4,211 shares of the company's stock valued at $73,000 after buying an additional 1,860 shares in the last quarter. James J. Burns & Company LLC bought a new position in shares of Fluence Energy during the 2nd quarter valued at approximately $173,000. Blue Trust Inc. purchased a new stake in Fluence Energy in the 2nd quarter worth approximately $58,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fluence Energy during the 2nd quarter worth approximately $184,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Performance

NASDAQ:FLNC traded up $1.60 during trading hours on Monday, reaching $18.52. The company's stock had a trading volume of 2,924,870 shares, compared to its average volume of 2,256,340. The stock has a 50 day moving average price of $20.62 and a two-hundred day moving average price of $19.62. The company has a market capitalization of $3.35 billion, a P/E ratio of 141.69, a price-to-earnings-growth ratio of 0.55 and a beta of 2.39. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.39.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $0.02 EPS. The business's revenue for the quarter was up 82.5% compared to the same quarter last year. As a group, analysts predict that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLNC has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on Fluence Energy from $27.00 to $24.00 and set an "outperform" rating on the stock in a report on Wednesday, November 27th. Guggenheim reissued a "buy" rating and set a $26.00 price objective on shares of Fluence Energy in a report on Friday. Canaccord Genuity Group decreased their target price on Fluence Energy from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Friday, November 29th. BNP Paribas upgraded Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price target for the company in a report on Friday, November 8th. Finally, Susquehanna upped their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a "positive" rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of "Moderate Buy" and a consensus price target of $26.85.

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.