Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by Erste Asset Management GmbH

Erste Asset Management GmbH increased its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 15.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,111,629 shares of the company’s stock after purchasing an additional 148,857 shares during the period. Erste Asset Management GmbH owned about 0.61% of Fluence Energy worth $18,058,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. US Bancorp DE raised its holdings in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares in the last quarter. KBC Group NV lifted its holdings in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares during the last quarter. Swiss National Bank increased its holdings in Fluence Energy by 1.4% during the 4th quarter. Swiss National Bank now owns 126,800 shares of the company’s stock valued at $2,014,000 after purchasing an additional 1,800 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Fluence Energy by 14.5% in the fourth quarter. New York State Common Retirement Fund now owns 18,995 shares of the company’s stock valued at $302,000 after buying an additional 2,400 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Fluence Energy during the third quarter worth approximately $74,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $5.28 on Thursday. The company has a fifty day moving average price of $10.87 and a two-hundred day moving average price of $16.61. Fluence Energy, Inc. has a one year low of $4.79 and a one year high of $26.12. The stock has a market cap of $958.58 million, a P/E ratio of -105.60 and a beta of 2.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Transactions at Fluence Energy

In related news, CEO Julian Nebreda bought 23,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the transaction, the chief executive officer now owns 120,455 shares in the company, valued at $764,889.25. The trade was a 24.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 89,000 shares of company stock worth $655,365 over the last quarter. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FLNC. UBS Group downgraded Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $28.00 to $8.00 in a research report on Wednesday, February 12th. The Goldman Sachs Group dropped their price objective on Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Roth Capital lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Robert W. Baird reissued a “neutral” rating and set a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Finally, Citigroup reduced their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.34.

Fluence Energy Company 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.