Royce & Associates LP Invests $3.26 Million in Fluence Energy, Inc. (NASDAQ:FLNC)

Royce & Associates LP purchased a new stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 205,000 shares of the company's stock, valued at approximately $3,255,000. Royce & Associates LP owned about 0.11% of Fluence Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLNC. Erste Asset Management GmbH bought a new stake in shares of Fluence Energy in the third quarter valued at about $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy in the third quarter valued at about $21,809,000. Principal Financial Group Inc. bought a new stake in shares of Fluence Energy in the third quarter valued at about $5,742,000. Zimmer Partners LP bought a new stake in shares of Fluence Energy in the third quarter valued at about $5,678,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Fluence Energy by 73.7% in the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company's stock valued at $12,177,000 after buying an additional 227,549 shares during the period. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Price Performance

Shares of Fluence Energy stock traded down $0.05 during midday trading on Friday, reaching $5.38. The company had a trading volume of 2,943,652 shares, compared to its average volume of 3,086,309. 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 company has a market capitalization of $976.73 million, a price-to-earnings ratio of -107.60 and a beta of 2.49. The stock has a fifty day simple moving average of $9.24 and a 200 day simple moving average of $15.98. Fluence Energy, Inc. has a 1-year low of $4.79 and a 1-year high of $26.12.

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Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued 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 net margin of 0.08% and a negative return on equity of 0.36%. As a group, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In other Fluence Energy news, CFO Ahmed Pasha bought 15,500 shares of the stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $100,440.00. Following the acquisition, the chief financial officer now owns 24,703 shares of the company's stock, valued at approximately $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herman E. Bulls bought 30,000 shares of the stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $6.53 per share, with a total value of $195,900.00. Following the acquisition, the director now directly owns 105,861 shares in the company, valued at approximately $691,272.33. This trade represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 89,000 shares of company stock valued at $655,365 over the last quarter. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

FLNC has been the subject of several research reports. Roth Capital cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group reduced their target price on shares of Fluence Energy from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Citigroup cut their price target on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. BMO Capital Markets cut shares of Fluence Energy from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, Wolfe Research cut shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $14.34.

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.