Fox Run Management L.L.C. Buys Shares of 17,189 Fluence Energy, Inc. (NASDAQ:FLNC)

Fox Run Management L.L.C. purchased a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 17,189 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in Fluence Energy during the third quarter valued at $212,000. Intech Investment Management LLC purchased a new position in shares of Fluence Energy during the 3rd quarter valued at about $309,000. Charles Schwab Investment Management Inc. grew its stake in shares of Fluence Energy by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 501,940 shares of the company’s stock valued at $11,399,000 after acquiring an additional 25,143 shares during the period. FMR LLC increased its holdings in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Fluence Energy by 2.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 161,207 shares of the company’s stock worth $3,661,000 after acquiring an additional 3,395 shares during the period. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Down 4.9 %

Shares of FLNC stock opened at $5.03 on Friday. The company has a market cap of $913.19 million, a PE ratio of -100.60 and a beta of 2.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $8.38 and its two-hundred day simple moving average is $15.62. Fluence Energy, Inc. has a 1 year low of $4.79 and a 1 year high of $26.12.

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

Insider Transactions at Fluence Energy

In other Fluence Energy news, CFO Ahmed Pasha bought 15,500 shares of the company’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the transaction, the chief financial officer now directly owns 24,703 shares of the company’s stock, valued at approximately $160,075.44. This represents a 168.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction dated 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 completion of the acquisition, the director now owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This trade represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 79,000 shares of company stock worth $499,665. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wolfe Research lowered shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 12th. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $8.00 in a research note on Thursday, February 13th. Truist Financial lowered their price objective on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. Finally, Morgan Stanley lowered their price target on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.34.

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.