76,863 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 76,863 shares of the company’s stock, valued at approximately $1,221,000.

Several other institutional investors have also recently bought and sold shares of FLNC. Sanders Morris Harris LLC bought a new position in Fluence Energy in the 4th quarter valued at about $812,000. Cidel Asset Management Inc. bought a new position in shares of Fluence Energy in the fourth quarter valued at approximately $350,000. SG Americas Securities LLC boosted its position in shares of Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after buying an additional 21,597 shares during the last quarter. FMR LLC grew its holdings in Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Fluence Energy in the 3rd quarter valued at $5,742,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Insiders Place Their Bets

In related news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the purchase, the director now directly owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This trade represents a 9.45 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ahmed Pasha bought 15,500 shares of the company’s stock in a transaction that occurred 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 acquisition, the chief financial officer now directly owns 24,703 shares in the company, valued at $160,075.44. This trade represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 79,000 shares of company stock valued at $499,665. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FLNC shares. Barclays reduced their target price on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 12th. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $28.00 to $8.00 in a research note on Wednesday, February 12th. Citigroup reduced their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, Bank of America downgraded Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.34.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $4.86 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The company’s fifty day moving average price is $7.63 and its 200-day moving average price is $15.15. Fluence Energy, Inc. has a one year low of $4.61 and a one year high of $26.12. The firm has a market capitalization of $882.33 million, a price-to-earnings ratio of -97.20 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. On average, equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal 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.