Flputnam Investment Management Co. Boosts Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

Flputnam Investment Management Co. increased its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 111.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,890 shares of the company’s stock after buying an additional 9,941 shares during the quarter. Flputnam Investment Management Co.’s holdings in Fluence Energy were worth $451,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FLNC. Ameritas Investment Partners Inc. grew its stake in Fluence Energy by 20.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,251 shares of the company’s stock valued at $87,000 after purchasing an additional 556 shares during the last quarter. Advisors Asset Management Inc. raised its position in Fluence Energy by 6.7% during the 1st quarter. Advisors Asset Management Inc. now owns 9,939 shares of the company’s stock worth $201,000 after buying an additional 622 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Fluence Energy by 6.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock worth $326,000 after buying an additional 849 shares during the last quarter. HighTower Advisors LLC lifted its stake in Fluence Energy by 7.9% during the 1st quarter. HighTower Advisors LLC now owns 13,233 shares of the company’s stock valued at $269,000 after acquiring an additional 970 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Fluence Energy by 6.5% in the 3rd quarter. LPL Financial LLC now owns 16,810 shares of the company’s stock valued at $386,000 after acquiring an additional 1,026 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLNC has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Susquehanna upgraded Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target for the company in a research report on Monday, February 26th. Bank of America upped their price objective on Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. upgraded shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Friday, February 23rd. Finally, Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Fluence Energy currently has an average rating of “Moderate Buy” and an average target price of $28.56.

Fluence Energy Price Performance

FLNC stock opened at $15.98 on Thursday. Fluence Energy, Inc. has a 1 year low of $13.03 and a 1 year high of $31.32. The firm has a market capitalization of $2.85 billion, a PE ratio of -30.15 and a beta of 2.57. The business has a 50 day simple moving average of $16.55 and a 200-day simple moving average of $19.45.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The company had revenue of $363.96 million during the quarter, compared to analyst estimates of $403.93 million. During the same period last year, the business earned ($0.21) earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts expect that Fluence Energy, Inc. will post 0.14 EPS 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.