Fluence Energy, Inc. (NASDAQ:FLNC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,508,003 shares of the company’s stock after buying an additional 60,633 shares during the period. Geode Capital Management LLC owned about 0.84% of Fluence Energy worth $34,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FLNC. PARK CIRCLE Co purchased a new position in Fluence Energy during the 2nd quarter valued at about $28,000. US Bancorp DE boosted its stake 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 valued at $38,000 after purchasing an additional 1,475 shares during the period. CWM LLC grew its holdings in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Fluence Energy during the 3rd quarter worth approximately $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy during the 3rd quarter worth approximately $87,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

FLNC opened at $16.13 on Thursday. The stock has a market capitalization of $2.92 billion, a P/E ratio of 124.08, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $26.12. The business’s 50-day simple moving average is $19.42 and its 200-day simple moving average is $19.03.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. On average, equities research analysts forecast that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FLNC. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group cut their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Jefferies Financial Group assumed coverage on Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective for the company. Piper Sandler upped their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada decreased their price target on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Moderate Buy” and an average target price of $26.65.

About Fluence Energy

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.