DekaBank Deutsche Girozentrale grew its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC – Get Rating) by 3,089.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,899 shares of the company’s stock after acquiring an additional 100,641 shares during the period. DekaBank Deutsche Girozentrale owned about 0.06% of Fluence Energy worth $1,771,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in Fluence Energy by 6.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,001 shares of the company’s stock worth $248,000 after acquiring an additional 1,104 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in Fluence Energy during the 4th quarter worth $43,000. Sandia Investment Management LP acquired a new position in Fluence Energy during the 3rd quarter worth $36,000. Legal & General Group Plc grew its holdings in Fluence Energy by 107.9% during the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company’s stock worth $56,000 after acquiring an additional 3,083 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Fluence Energy during the 3rd quarter worth $57,000. 19.60% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Fluence Energy from an “overweight” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research report on Friday, February 10th. Canaccord Genuity Group raised their price target on shares of Fluence Energy from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Credit Suisse Group restated an “outperform” rating and issued a $27.00 price target on shares of Fluence Energy in a research report on Monday, February 13th. Susquehanna assumed coverage on shares of Fluence Energy in a research report on Thursday, March 30th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, Robert W. Baird downgraded shares of Fluence Energy from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research report on Friday, February 10th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Fluence Energy presently has an average rating of “Moderate Buy” and a consensus price target of $24.85.
Fluence Energy Stock Up 1.5 %
Fluence Energy (NASDAQ:FLNC – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.06. The firm had revenue of $310.46 million for the quarter, compared to analysts’ expectations of $318.75 million. Fluence Energy had a negative net margin of 7.52% and a negative return on equity of 21.82%. On average, analysts expect that Fluence Energy, Inc. will post -0.84 EPS for the current fiscal year.
Insider Transactions at Fluence Energy
In other news, SVP Rebecca Boll sold 19,706 shares of Fluence Energy stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $19.23, for a total value of $378,946.38. Following the transaction, the senior vice president now owns 101,553 shares of the company’s stock, valued at approximately $1,952,864.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.
About Fluence Energy
Fluence Energy, Inc, through its subsidiaries, offers energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.
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