Fluence Energy, Inc. (NASDAQ:FLNC) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 19.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,849,301 shares of the company’s stock after acquiring an additional 296,325 shares during the period. Clearbridge Investments LLC’s holdings in Fluence Energy were worth $29,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SCP Investment LP boosted its holdings in shares of Fluence Energy by 66.8% in the fourth quarter. SCP Investment LP now owns 61,400 shares of the company’s stock valued at $975,000 after acquiring an additional 24,600 shares during the period. Duff & Phelps Investment Management Co. boosted its stake in Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after purchasing an additional 1,432 shares during the period. Norges Bank purchased a new position in Fluence Energy during the 4th quarter worth $1,321,000. Blair William & Co. IL acquired a new position in Fluence Energy in the fourth quarter valued at $373,000. Finally, Prudential Financial Inc. raised its holdings in shares of Fluence Energy by 11.4% in the fourth quarter. Prudential Financial Inc. now owns 241,925 shares of the company’s stock valued at $3,842,000 after buying an additional 24,800 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FLNC. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $20.00 to $8.00 in a report on Thursday, February 13th. Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. UBS Group downgraded Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $8.00 in a report on Wednesday, February 12th. Susquehanna dropped their price objective on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a research note on Wednesday, February 12th. Finally, Roth Mkm cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.34.

Fluence Energy Stock Performance

Shares of FLNC opened at $4.80 on Wednesday. The company has a 50-day moving average of $7.80 and a two-hundred day moving average of $15.23. The stock has a market cap of $871.44 million, a P/E ratio of -96.00 and a beta of 2.49. Fluence Energy, Inc. has a 12-month low of $4.63 and a 12-month high of $26.12. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) 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%. As a group, research analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ahmed Pasha bought 15,500 shares of the stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $6.48 per share, with a total value of $100,440.00. Following the purchase, the chief financial officer now owns 24,703 shares of the company’s stock, valued at approximately $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Herman E. Bulls purchased 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the acquisition, the director now directly owns 105,861 shares in the company, valued at $691,272.33. The trade was a 39.55 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 79,000 shares of company stock worth $499,665. 0.65% of the stock is owned by corporate insiders.

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.