Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. reduced its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 19.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,578 shares of the company’s stock after selling 12,553 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Fluence Energy were worth $1,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $27,000. Allspring Global Investments Holdings LLC grew its position in shares of Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after acquiring an additional 1,388 shares during the period. Quarry LP grew its position in shares of Fluence Energy by 342.2% during the 1st quarter. Quarry LP now owns 2,401 shares of the company’s stock valued at $49,000 after acquiring an additional 1,858 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Fluence Energy by 20.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,251 shares of the company’s stock valued at $87,000 after acquiring an additional 556 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Fluence Energy during the 2nd quarter valued at about $39,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

FLNC stock opened at $16.05 on Wednesday. The firm has a market cap of $2.87 billion, a PE ratio of -30.28 and a beta of 2.57. The firm’s 50 day moving average price is $16.70 and its 200-day moving average price is $19.52. Fluence Energy, Inc. has a one year low of $13.03 and a one year high of $31.32.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $363.96 million for the quarter, compared to analysts’ expectations of $403.93 million. Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) EPS. Equities research analysts predict that Fluence Energy, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FLNC. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Friday, February 23rd. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Wednesday, April 3rd. BMO Capital Markets raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Tuesday, January 16th. Piper Sandler decreased their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Finally, Bank of America raised their price target on shares of Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.56.

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.