Norges Bank Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Norges Bank purchased a new position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 83,206 shares of the company's stock, valued at approximately $1,321,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Fluence Energy by 2.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 161,207 shares of the company's stock valued at $3,661,000 after purchasing an additional 3,395 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Fluence Energy by 28.6% in the third quarter. HighTower Advisors LLC now owns 18,865 shares of the company's stock valued at $428,000 after buying an additional 4,190 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $175,000. Barclays PLC grew its stake in Fluence Energy by 296.8% in the 3rd quarter. Barclays PLC now owns 181,766 shares of the company's stock worth $4,127,000 after acquiring an additional 135,957 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company's stock valued at $34,253,000 after acquiring an additional 60,633 shares during the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Stock Down 2.9 %

Fluence Energy stock traded down $0.11 during midday trading on Thursday, hitting $3.54. 1,127,099 shares of the stock were exchanged, compared to its average volume of 3,336,499. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The company has a 50 day moving average price of $5.49 and a two-hundred day moving average price of $13.77. The firm has a market cap of $641.78 million, a P/E ratio of -70.70 and a beta of 2.48. Fluence Energy, Inc. has a 1 year low of $3.50 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued 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 net margin of 0.08% and a negative return on equity of 0.36%. On average, sell-side analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 30,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the purchase, the director now owns 105,861 shares in the company, valued at $691,272.33. This trade represents a 39.55 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Julian Nebreda purchased 23,500 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $6.35 per share, with a total value of $149,225.00. Following the completion of the purchase, the chief executive officer now directly owns 120,455 shares of the company's stock, valued at approximately $764,889.25. This represents a 24.24 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 79,000 shares of company stock valued at $499,665. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FLNC has been the subject of a number of recent analyst reports. Roth Capital downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Baird R W downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Royal Bank of Canada cut shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group cut their price target on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Guggenheim dropped their price objective on Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a report on Tuesday. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $11.43.

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.