Fmr LLC Buys 132,868 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Fmr LLC boosted its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,606,100 shares of the company’s stock after purchasing an additional 132,868 shares during the period. Fmr LLC owned about 0.89% of Fluence Energy worth $36,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLNC. Hsbc Holdings PLC raised its stake in Fluence Energy by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after buying an additional 897 shares during the last quarter. US Bancorp DE grew its holdings in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the period. Blue Trust Inc. increased its position in Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after acquiring an additional 1,502 shares during the last quarter. PARK CIRCLE Co bought a new position in Fluence Energy in the second quarter valued at about $28,000. Finally, CWM LLC grew its stake in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the period. Institutional investors own 53.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Bank of America reduced their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Finally, Robert W. Baird reduced their price target on Fluence Energy from $27.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.85.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $16.92 on Monday. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 130.15, a P/E/G ratio of 0.57 and a beta of 2.39. The firm has a fifty day moving average price of $20.62 and a 200 day moving average price of $19.62. Fluence Energy, Inc. has a fifty-two week low of $12.74 and a fifty-two week high of $27.39.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. As a group, research analysts predict that Fluence Energy, Inc. will post 0.54 earnings per share for the current year.

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.