Vanguard Group Inc. Increases Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Vanguard Group Inc. increased its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,252,320 shares of the company's stock after purchasing an additional 110,256 shares during the quarter. Vanguard Group Inc. owned 3.45% of Fluence Energy worth $99,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of FLNC. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at $79,000. Morse Asset Management Inc bought a new stake in Fluence Energy in the third quarter worth about $175,000. Blueshift Asset Management LLC purchased a new position in shares of Fluence Energy during the fourth quarter valued at approximately $176,000. KLP Kapitalforvaltning AS bought a new position in shares of Fluence Energy during the fourth quarter valued at approximately $213,000. Finally, Mezzasalma Advisors LLC purchased a new stake in shares of Fluence Energy in the fourth quarter worth approximately $221,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on FLNC shares. Guggenheim downgraded Fluence Energy from a "buy" rating to a "sell" rating and cut their price objective for the company from $26.00 to $6.00 in a research report on Tuesday, February 11th. Roth Mkm downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. Royal Bank of Canada lowered shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from $25.00 to $7.00 in a report on Wednesday, February 12th. Jefferies Financial Group downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and dropped their target price for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Finally, Piper Sandler lowered their price target on Fluence Energy from $20.00 to $10.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $13.79.

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Fluence Energy Stock Up 13.3 %

FLNC stock opened at $4.42 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a 52 week low of $3.63 and a 52 week high of $26.12. The stock has a market capitalization of $802.45 million, a PE ratio of -88.40 and a beta of 2.48. The firm has a 50 day moving average of $6.34 and a 200 day moving average of $14.35.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the transaction, the director now owns 115,861 shares of the company's stock, valued at $626,808.01. This represents a 9.45 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Julian Nebreda acquired 23,500 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,455 shares in the company, valued at approximately $764,889.25. The trade was a 24.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 79,000 shares of company stock valued at $499,665 over the last quarter. 0.65% of the stock is currently owned by company insiders.

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.

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