Sanders Morris Harris LLC Purchases Shares of 50,000 Fluence Energy, Inc. (NASDAQ:FLNC)

Sanders Morris Harris LLC purchased a new stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 50,000 shares of the company's stock, valued at approximately $812,000.

Several other large investors have also made changes to their positions in FLNC. Handelsbanken Fonder AB lifted its stake in Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company's stock valued at $144,800,000 after acquiring an additional 2,047,063 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Fluence Energy during the 3rd quarter valued at $22,059,000. Point72 Asset Management L.P. bought a new stake in Fluence Energy in the third quarter worth $21,809,000. Principal Financial Group Inc. acquired a new position in Fluence Energy during the third quarter worth $5,742,000. Finally, Zimmer Partners LP bought a new position in Fluence Energy during the third quarter valued at about $5,678,000. Institutional investors own 53.16% of the company's stock.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased 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 of the company's stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FLNC shares. Bank of America decreased their price target on Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Robert W. Baird reiterated a "neutral" rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Susquehanna boosted their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a "positive" rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price objective on shares of 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 downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Fluence Energy has a consensus rating of "Moderate Buy" and an average price target of $26.65.

Fluence Energy Price Performance

Shares of NASDAQ FLNC traded down $0.13 during trading hours on Thursday, reaching $15.58. The stock had a trading volume of 2,512,717 shares, compared to its average volume of 3,047,722. Fluence Energy, Inc. has a twelve month low of $12.74 and a twelve month high of $26.12. The business's fifty day moving average is $17.98 and its two-hundred day moving average is $18.63. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 119.85, a PEG ratio of 0.53 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm's revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. Sell-side analysts forecast that Fluence Energy, Inc. will post 0.55 earnings per share for the current fiscal year.

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.