Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,995 shares of the company’s stock after buying an additional 2,400 shares during the quarter. New York State Common Retirement Fund’s holdings in Fluence Energy were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FLNC. US Bancorp DE boosted its stake in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at about $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at about $87,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy during the fourth quarter worth about $79,000. Finally, Morse Asset Management Inc acquired a new position in Fluence Energy in the third quarter worth about $175,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Julian Nebreda acquired 23,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the purchase, the chief executive officer now directly owns 120,455 shares of the company’s stock, valued at $764,889.25. The trade was a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ahmed Pasha bought 15,500 shares of the business’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the transaction, the chief financial officer now directly owns 24,703 shares of the company’s stock, valued at $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 79,000 shares of company stock worth $601,265. 0.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler dropped their price target on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Guggenheim downgraded shares of Fluence Energy from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $26.00 to $6.00 in a report on Tuesday, February 11th. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $6.50 in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy has a consensus rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Up 0.4 %

Shares of Fluence Energy stock opened at $5.21 on Wednesday. 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, Inc. has a 1-year low of $4.78 and a 1-year high of $26.12. The business’s fifty day moving average price is $12.37 and its two-hundred day moving average price is $17.23. The company has a market capitalization of $945.87 million, a P/E ratio of -104.20 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share 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 forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

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.