604,871 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Purchased by SIR Capital Management L.P.

SIR Capital Management L.P. bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 604,871 shares of the company’s stock, valued at approximately $9,605,000. SIR Capital Management L.P. owned approximately 0.33% of Fluence Energy at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Sanders Morris Harris LLC purchased a new position in Fluence Energy in the fourth quarter worth $812,000. Cidel Asset Management Inc. purchased a new position in Fluence Energy in the fourth quarter valued at about $350,000. SG Americas Securities LLC lifted its position in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after acquiring an additional 21,597 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in Fluence Energy during the fourth quarter worth $1,429,000. Finally, Raymond James Financial Inc. purchased a new stake in Fluence Energy during the fourth quarter worth $1,221,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The shares were acquired at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

FLNC has been the subject of several research reports. UBS Group lifted their price target on Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays restated an “equal weight” rating and set a $5.00 target price (down previously from $9.00) on shares of Fluence Energy in a research report on Tuesday, April 8th. Piper Sandler reduced their price target on shares of Fluence Energy from $10.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group dropped their price objective on shares of Fluence Energy from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, Jefferies Financial Group lowered Fluence Energy from a “hold” rating to an “underperform” rating and reduced their target price for the company from $4.00 to $3.00 in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.17.

Fluence Energy Price Performance

Fluence Energy stock opened at $5.37 on Friday. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $26.12. 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 50 day moving average price of $4.60 and a 200 day moving average price of $11.33. The company has a market cap of $974.92 million, a price-to-earnings ratio of -107.40 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data 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 prior year, the firm earned ($0.07) earnings per share. Sell-side analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

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.