Two Sigma Investments LP Buys 107,674 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Two Sigma Investments LP lifted its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 725.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,507 shares of the company’s stock after acquiring an additional 107,674 shares during the quarter. Two Sigma Investments LP owned approximately 0.07% of Fluence Energy worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. SIR Capital Management L.P. bought a new stake in Fluence Energy in the fourth quarter worth approximately $9,605,000. Sora Investors LLC bought a new stake in Fluence Energy in the fourth quarter worth approximately $4,424,000. Point72 Asset Management L.P. increased its holdings in Fluence Energy by 63.5% in the fourth quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company’s stock worth $24,940,000 after purchasing an additional 610,229 shares in the last quarter. Point72 Europe London LLP bought a new stake in Fluence Energy in the fourth quarter worth approximately $1,890,000. Finally, Polar Capital Holdings Plc increased its holdings in Fluence Energy by 79.3% in the fourth quarter. Polar Capital Holdings Plc now owns 420,500 shares of the company’s stock worth $6,678,000 after purchasing an additional 186,000 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Stock Up 1.1%

Shares of NASDAQ:FLNC opened at $4.73 on Monday. The stock has a market cap of $858.73 million, a price-to-earnings ratio of -94.60 and a beta of 2.49. 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 12-month low of $3.46 and a 12-month high of $26.08. The business’s 50 day moving average is $4.51 and its 200 day moving average is $9.96.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $431.62 million for the quarter, compared to analysts’ expectations of $328.17 million. Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The firm’s quarterly revenue was down 30.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. On average, sell-side analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fluence Energy news, Director Cynthia A. Arnold acquired 33,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were acquired at an average price of $5.90 per share, with a total value of $194,700.00. Following the completion of the transaction, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the transaction, the director now owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. The trade was a 9.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

FLNC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. downgraded 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 report on Friday, April 11th. Wolfe Research downgraded Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. Guggenheim lowered their target price on Fluence Energy from $6.00 to $2.00 and set a “sell” rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $25.00 to $7.00 in a report on Wednesday, February 12th. Finally, Roth Mkm cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.21.

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.