Bryce Point Capital LLC Makes New $591,000 Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Bryce Point Capital LLC purchased a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 121,840 shares of the company’s stock, valued at approximately $591,000. Bryce Point Capital LLC owned 0.07% of Fluence Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after acquiring an additional 110,256 shares during the period. Zimmer Partners LP lifted its holdings in shares of Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock worth $34,052,000 after acquiring an additional 1,894,301 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after acquiring an additional 296,325 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Fluence Energy by 63.5% during the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company’s stock worth $24,940,000 after acquiring an additional 610,229 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Fluence Energy by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock worth $24,035,000 after acquiring an additional 5,216 shares during the period. Institutional investors own 53.16% of the company’s stock.

Insider Buying and Selling at Fluence Energy

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director directly owned 86,202 shares in the company, valued at $508,591.80. This represents a 62.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is currently owned by company insiders.

Fluence Energy Price Performance

FLNC stock opened at $9.38 on Monday. The company has a fifty day moving average price of $6.50 and a 200-day moving average price of $6.92. The company has a market capitalization of $1.70 billion, a P/E ratio of -42.64 and a beta of 2.65. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week high of $24.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results 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 business had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. Fluence Energy’s revenue was down 30.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. As a group, equities analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FLNC. Susquehanna upped their price target on shares of Fluence Energy from $6.00 to $11.00 and gave the stock a “positive” rating in a report on Monday, July 21st. JPMorgan Chase & Co. upped their price target on shares of Fluence Energy from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Hsbc Global Res downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Barclays increased their price objective on shares of Fluence Energy from $5.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Finally, Canaccord Genuity Group dropped their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.98.

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.