Stratos Wealth Partners LTD. Makes New $82,000 Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Stratos Wealth Partners LTD. purchased a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,811 shares of the company’s stock, valued at approximately $82,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in Fluence Energy in the fourth quarter valued at approximately $34,000. Alpha Wealth Funds LLC bought a new position in shares of Fluence Energy during the 1st quarter valued at $63,000. Tower Research Capital LLC TRC boosted its holdings in 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 acquiring an additional 4,921 shares during the period. Pallas Capital Advisors LLC purchased a new stake in shares of Fluence Energy during the first quarter valued at approximately $89,000. Finally, City Center Advisors LLC purchased a new stake in shares of Fluence Energy during the first quarter worth about $121,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FLNC has been the topic of several research reports. Morgan Stanley lifted their price target on Fluence Energy from $4.00 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Susquehanna decreased their price target on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Robert W. Baird cut their price target on Fluence Energy from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. HSBC downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a report on Monday, April 28th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $10.00 target price (up previously from $6.00) on shares of Fluence Energy in a report on Monday. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.78.

Insiders Place Their Bets

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the completion of the acquisition, the director directly owned 86,202 shares in the company, valued at $508,591.80. This represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Fluence Energy Trading Down 0.4%

NASDAQ FLNC opened at $8.24 on Friday. Fluence Energy, Inc. has a 12 month low of $3.46 and a 12 month high of $24.00. The company has a 50-day moving average of $6.00 and a 200-day moving average of $7.37. The company has a market cap of $1.50 billion, a P/E ratio of -37.45 and a beta of 2.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The firm 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. Fluence Energy’s revenue for the quarter was down 30.7% on a year-over-year basis. As a group, equities analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

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.