AlphaQuest LLC Sells 7,159 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

AlphaQuest LLC decreased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 25.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,936 shares of the company’s stock after selling 7,159 shares during the quarter. AlphaQuest LLC’s holdings in Fluence Energy were worth $332,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the period. Point72 DIFC Ltd purchased a new stake in Fluence Energy during the 3rd quarter worth about $74,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Fluence Energy during the 4th quarter valued at about $79,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy in the third quarter worth about $87,000. Finally, Morse Asset Management Inc bought a new position in shares of Fluence Energy in the third quarter valued at approximately $175,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Down 1.7 %

Shares of Fluence Energy stock opened at $5.13 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. Fluence Energy, Inc. has a 52-week low of $4.79 and a 52-week high of $26.12. The company’s 50 day moving average price is $10.39 and its 200-day moving average price is $16.44. The stock has a market capitalization of $931.35 million, a price-to-earnings ratio of -102.60 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. Equities research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now owns 115,861 shares in the company, valued at $626,808.01. This represents a 9.45 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ahmed Pasha bought 15,500 shares of Fluence Energy stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the purchase, the chief financial officer now directly owns 24,703 shares of the company’s stock, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 89,000 shares of company stock valued at $655,365 over the last ninety days. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on FLNC. Piper Sandler cut their price target on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Susquehanna dropped their price objective on Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a research note on Wednesday, February 12th. The Goldman Sachs Group decreased their target price on Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $25.00 to $7.00 in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.34.

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.