Polar Capital Holdings Plc Purchases 186,000 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Polar Capital Holdings Plc boosted its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 79.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420,500 shares of the company’s stock after purchasing an additional 186,000 shares during the quarter. Polar Capital Holdings Plc owned about 0.23% of Fluence Energy worth $6,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Fluence Energy in the 4th quarter valued at $34,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Fluence Energy in the 4th quarter valued at $79,000. Tower Research Capital LLC TRC raised its holdings in Fluence Energy by 827.1% in 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 in the last quarter. Blueshift Asset Management LLC acquired a new position in Fluence Energy in the 4th quarter valued at $176,000. Finally, Envestnet Asset Management Inc. raised its holdings in Fluence Energy by 47.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company’s stock valued at $211,000 after acquiring an additional 4,285 shares in the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the transaction, the director now directly owns 115,861 shares in the company, valued at approximately $626,808.01. This trade represents a 9.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cynthia A. Arnold bought 33,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director now owns 86,202 shares in the company, valued at $508,591.80. This represents a 62.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

Fluence Energy Trading Down 1.5%

NASDAQ FLNC opened at $5.37 on Friday. The business’s 50-day moving average price is $4.60 and its two-hundred day moving average price is $11.33. Fluence Energy, Inc. has a 12 month low of $3.46 and a 12 month high of $26.12. The firm has a market capitalization of $974.92 million, a PE ratio of -107.40 and a beta of 2.49. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets cut Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $22.00 to $10.00 in a report on Tuesday, February 11th. Susquehanna lowered their price target on Fluence Energy from $10.00 to $8.00 and set a “positive” rating for the company in a report on Monday, April 14th. Jefferies Financial Group cut Fluence Energy from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $4.00 to $3.00 in a report on Thursday. Roth Capital cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, UBS Group boosted their price target on Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday. 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 MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.17.

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.