Alpha Wave Global LP Invests $4.40 Million in Fluence Energy, Inc. $FLNC

Alpha Wave Global LP acquired a new position in Fluence Energy, Inc. (NASDAQ:FLNC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 654,995 shares of the company’s stock, valued at approximately $4,395,000. Fluence Energy comprises about 0.5% of Alpha Wave Global LP’s portfolio, making the stock its 17th biggest position. Alpha Wave Global LP owned about 0.36% of Fluence Energy as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new position in shares of Fluence Energy in the second quarter worth about $30,000. Ameritas Investment Partners Inc. boosted its holdings in Fluence Energy by 25.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock worth $52,000 after buying an additional 1,586 shares during the period. TFB Advisors LLC bought a new position in Fluence Energy in the 1st quarter worth approximately $53,000. Voleon Capital Management LP purchased a new position in Fluence Energy in the 1st quarter valued at approximately $55,000. Finally, Activest Wealth Management bought a new stake in Fluence Energy during the 2nd quarter valued at $68,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FLNC. Wall Street Zen upgraded Fluence Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Canaccord Genuity Group increased their price objective on Fluence Energy from $10.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “sell (d)” rating on shares of Fluence Energy in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on Fluence Energy from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley increased their price target on shares of Fluence Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Fluence Energy currently has an average rating of “Reduce” and an average price target of $12.48.

Fluence Energy Stock Up 17.6%

FLNC stock opened at $23.34 on Friday. The company’s 50 day moving average is $17.52 and its 200 day moving average is $10.79. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -55.57 and a beta of 2.88. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71. Fluence Energy, Inc. has a 1-year low of $3.46 and a 1-year high of $23.74.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. Sell-side analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

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.