JPMorgan Chase & Co. Boosts Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

JPMorgan Chase & Co. raised its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 73.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536,184 shares of the company’s stock after buying an additional 227,549 shares during the quarter. JPMorgan Chase & Co. owned about 0.30% of Fluence Energy worth $12,177,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLNC. FMR LLC increased its position in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after purchasing an additional 132,868 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Fluence Energy during the 3rd quarter valued at about $22,059,000. Principal Financial Group Inc. bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $5,742,000. XTX Topco Ltd bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $825,000. Finally, Barclays PLC grew its position in Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after acquiring an additional 135,957 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Insider Buying and Selling

In other news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

Fluence Energy Price Performance

NASDAQ:FLNC opened at $16.09 on Friday. The firm has a market cap of $2.91 billion, a PE ratio of 123.77, a price-to-earnings-growth ratio of 0.56 and a beta of 2.42. The company has a 50-day moving average of $18.29 and a 200 day moving average of $18.67. Fluence Energy, Inc. has a 1-year low of $12.74 and a 1-year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion for 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 company’s quarterly revenue was up 82.5% on a year-over-year basis. During the same period last year, the firm earned $0.02 earnings per share. Sell-side analysts anticipate that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLNC. Bank of America lowered 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. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Royal Bank of Canada cut 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 report on Wednesday, November 27th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. Finally, Piper Sandler upped their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.65.

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.