Raymond James Financial Services Advisors Inc. Invests $207,000 in Fluence Energy, Inc. (NASDAQ:FLNC)

Raymond James Financial Services Advisors Inc. bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,673 shares of the company’s stock, valued at approximately $207,000.

Several other large investors also recently modified their holdings of FLNC. National Bank of Canada FI bought a new stake in shares of Fluence Energy during the 3rd quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after buying an additional 1,388 shares during the last quarter. Signaturefd LLC lifted its position in shares of Fluence Energy by 6,126.1% during the 3rd quarter. Signaturefd LLC now owns 6,911 shares of the company’s stock worth $159,000 after buying an additional 6,800 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Fluence Energy during the 3rd quarter worth $192,000. Finally, Flputnam Investment Management Co. bought a new stake in shares of Fluence Energy during the 3rd quarter worth $206,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Price Performance

NASDAQ FLNC opened at $16.84 on Thursday. The business has a 50 day simple moving average of $15.98 and a 200 day simple moving average of $19.27. Fluence Energy, Inc. has a one year low of $13.03 and a one year high of $31.32. The stock has a market capitalization of $3.01 billion, a P/E ratio of -31.77 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate 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 business had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. During the same period in the prior year, the business earned ($0.21) EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts expect that Fluence Energy, Inc. will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research report on Friday, February 23rd. Susquehanna upgraded Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price for the company in a research report on Monday, February 26th. Raymond James upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Wednesday, April 3rd. Bank of America increased their target price on Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, BMO Capital Markets upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.56.

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.