JPMorgan Chase & Co. grew its holdings in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 73.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 536,184 shares of the company's stock after purchasing an additional 227,549 shares during the period. JPMorgan Chase & Co. owned about 0.30% of Fluence Energy worth $12,177,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE increased its holdings in shares of Fluence Energy by 676.6% in the 3rd 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 increased its holdings in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after purchasing an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Fluence Energy in the 3rd quarter worth $74,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy in the third quarter worth $87,000. Finally, Blue Trust Inc. grew its holdings in shares of Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company's stock worth $109,000 after acquiring an additional 1,502 shares during the period. Institutional investors own 53.16% of the company's stock.
Insider Buying and Selling
In related news, Director Herman E. Bulls acquired 10,000 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by company insiders.
Fluence Energy Stock Performance
Shares of Fluence Energy stock traded down $1.00 during trading hours on Friday, hitting $16.09. The company's stock had a trading volume of 1,947,943 shares, compared to its average volume of 2,518,036. The company has a market cap of $2.91 billion, a PE ratio of 123.77, a PEG ratio of 0.56 and a beta of 2.42. Fluence Energy, Inc. has a 12-month low of $12.74 and a 12-month high of $26.12. The business has a 50 day moving average price of $18.29 and a two-hundred day moving average price of $18.67.
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, topping 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 firm's revenue for the quarter was up 82.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.
Analysts Set New Price Targets
FLNC has been the subject of several research analyst reports. Bank of America cut their price objective on Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Guggenheim reaffirmed a "buy" rating and issued a $26.00 price objective on shares of Fluence Energy in a report on Friday, December 6th. Royal Bank of Canada cut their price objective on Fluence Energy from $28.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, November 27th. BMO Capital Markets lifted their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Finally, Baird R W lowered Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $26.65.
Check Out Our Latest Analysis on FLNC
About Fluence Energy
(
Free Report)
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.
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