Raymond James Financial Inc. Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Raymond James Financial Inc. bought a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 76,863 shares of the company’s stock, valued at approximately $1,221,000.

A number of other hedge funds also recently made changes to their positions in the business. Trexquant Investment LP increased its holdings in Fluence Energy by 577.5% during the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock worth $13,918,000 after buying an additional 747,103 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after purchasing an additional 296,325 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Fluence Energy in the 4th quarter worth approximately $4,288,000. JPMorgan Chase & Co. lifted its stake in Fluence Energy by 73.7% in the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after purchasing an additional 227,549 shares during the last quarter. Finally, Royce & Associates LP bought a new position in Fluence Energy during the fourth quarter valued at $3,255,000. 53.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FLNC has been the topic of several research reports. UBS Group lowered their target price on Fluence Energy from $8.00 to $4.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $25.00 to $7.00 in a report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded shares of Fluence Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $7.00 in a research note on Friday, April 11th. Roth Capital cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Barclays reiterated an “equal weight” rating and issued a $5.00 price objective (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.64.

Insiders Place Their Bets

In other news, CFO Ahmed Pasha acquired 15,500 shares of the stock in a transaction dated 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 completion of the purchase, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. The trade was a 168.42 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Herman E. Bulls bought 30,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the acquisition, the director now owns 105,861 shares of the company’s stock, valued at $691,272.33. This trade represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 79,000 shares of company stock valued at $499,665 in the last ninety days. Company insiders own 0.65% of the company’s stock.

Fluence Energy Trading Up 1.4 %

Shares of FLNC opened at $4.34 on Friday. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12. The firm has a market cap of $787.92 million, a price-to-earnings ratio of -86.80 and a beta of 2.48. The firm has a 50 day moving average price of $4.70 and a 200-day moving average price of $12.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly 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 net margin of 0.08% and a negative return on equity of 0.36%. As a group, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share 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.