Cohen & Steers Inc. Takes Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Cohen & Steers Inc. bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 43,146 shares of the company’s stock, valued at approximately $685,000.

Several other hedge funds have also recently modified their holdings of FLNC. Vanguard Group Inc. boosted its stake in Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after purchasing an additional 110,256 shares during the last quarter. Clearbridge Investments LLC grew its stake in Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after acquiring an additional 296,325 shares in the last quarter. Geode Capital Management LLC raised its holdings in Fluence Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock valued at $24,035,000 after acquiring an additional 5,216 shares during the last quarter. Erste Asset Management GmbH lifted its stake in Fluence Energy by 15.5% in the 4th quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock worth $18,058,000 after purchasing an additional 148,857 shares in the last quarter. Finally, Trexquant Investment LP boosted its holdings in shares of Fluence Energy by 577.5% during the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock worth $13,918,000 after purchasing an additional 747,103 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Trading Down 2.4 %

NASDAQ:FLNC opened at $4.06 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a 52-week low of $3.63 and a 52-week high of $26.12. The stock’s 50 day moving average price is $5.84 and its 200 day moving average price is $13.91. The company has a market capitalization of $737.09 million, a PE ratio of -81.20 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) 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, research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 30,000 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the transaction, the director now directly owns 105,861 shares of the company’s stock, valued at $691,272.33. The trade was a 39.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Julian Nebreda purchased 23,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost 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 in the company, valued at $764,889.25. The trade was a 24.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 79,000 shares of company stock valued at $499,665. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FLNC has been the subject of several recent research reports. Susquehanna cut their price target on Fluence Energy from $10.00 to $8.00 and set a “positive” rating for the company in a report on Monday. Mizuho initiated coverage on Fluence Energy in a report on Wednesday, March 5th. They set an “outperform” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. lowered shares of Fluence Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $7.00 in a report on Friday. Guggenheim downgraded shares of Fluence Energy from a “buy” rating to a “sell” rating and reduced their target price for the stock from $26.00 to $6.00 in a research note on Tuesday, February 11th. Finally, BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.52.

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.