Fluence Energy, Inc. (NASDAQ:FLNC) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 597,881 shares of the company’s stock after purchasing an additional 22,308 shares during the quarter. Northern Trust Corp owned about 0.33% of Fluence Energy worth $9,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLNC. Altshuler Shaham Ltd acquired a new stake in Fluence Energy during the 4th quarter valued at approximately $34,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Fluence Energy during the 4th quarter worth about $79,000. Tower Research Capital LLC TRC raised its stake in shares of Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock valued at $88,000 after buying an additional 4,921 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Fluence Energy in the 4th quarter valued at about $176,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Fluence Energy by 47.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company’s stock worth $211,000 after buying an additional 4,285 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Analysts Set New Price Targets

FLNC has been the subject of a number of analyst reports. Barclays reissued an “equal weight” rating and issued a $5.00 price target (down from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Wolfe Research cut shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 12th. Royal Bank of Canada lowered shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $25.00 to $7.00 in a research report on Wednesday, February 12th. UBS Group upped their price objective on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lowered shares of Fluence Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $7.00 in a research note on Friday, April 11th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy presently has an average rating of “Hold” and a consensus price target of $8.17.

Fluence Energy Trading Up 0.7%

Shares of Fluence Energy stock opened at $5.41 on Friday. The stock has a 50 day moving average of $4.60 and a 200 day moving average of $11.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market capitalization of $982.18 million, a price-to-earnings ratio of -108.20 and a beta of 2.49. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The business had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same period in the previous year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was down 30.7% compared to the same quarter last year. As a group, research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now owns 115,861 shares of the company’s stock, valued at $626,808.01. This represents a 9.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cynthia A. Arnold bought 33,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $5.90 per share, with a total value of $194,700.00. Following the completion of the acquisition, the director now directly owns 86,202 shares in the company, valued at $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

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.