Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Credit Capital Investments LLC

Credit Capital Investments LLC lessened its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 40.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,000 shares of the company’s stock after selling 24,000 shares during the quarter. Fluence Energy accounts for 0.7% of Credit Capital Investments LLC’s portfolio, making the stock its 18th largest position. Credit Capital Investments LLC’s holdings in Fluence Energy were worth $556,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. FMR LLC grew its stake in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares in the last quarter. Geode Capital Management LLC grew its stake in Fluence Energy by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after purchasing an additional 60,633 shares in the last quarter. Erste Asset Management GmbH grew its stake in Fluence Energy by 15.5% during the 4th quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock valued at $18,058,000 after purchasing an additional 148,857 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Fluence Energy during the 3rd quarter valued at approximately $21,809,000. Finally, JPMorgan Chase & Co. grew its stake in Fluence Energy by 73.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after purchasing an additional 227,549 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Up 1.8 %

Shares of Fluence Energy stock opened at $5.51 on Wednesday. Fluence Energy, Inc. has a 1-year low of $4.79 and a 1-year high of $26.12. The company has a market capitalization of $1.00 billion, a P/E ratio of -110.20 and a beta of 2.49. The business’s fifty day moving average price is $9.91 and its two-hundred day moving average price is $16.23. 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 quarterly 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, research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

FLNC has been the subject of a number of recent analyst reports. Guggenheim lowered Fluence Energy from a “buy” rating to a “sell” rating and lowered their price objective for the company from $26.00 to $6.00 in a research note on Tuesday, February 11th. Citigroup reduced their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Barclays reduced their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. Bank of America downgraded Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $8.00 in a report on Thursday, February 13th. Finally, Susquehanna reduced their target price on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.34.

Insider Activity

In other news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ahmed Pasha purchased 15,500 shares of the stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the transaction, the chief financial officer now owns 24,703 shares in the company, valued at $160,075.44. This trade represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 89,000 shares of company stock worth $655,365. 0.65% of the stock is 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.