150,000 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Bought by Arosa Capital Management LP

Arosa Capital Management LP purchased a new stake in Fluence Energy, Inc. (NASDAQ:FLNC) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 150,000 shares of the company’s stock, valued at approximately $2,382,000. Fluence Energy makes up about 1.0% of Arosa Capital Management LP’s portfolio, making the stock its 21st largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanders Morris Harris LLC acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $812,000. Cidel Asset Management Inc. acquired a new stake in Fluence Energy during the 4th quarter worth about $350,000. SG Americas Securities LLC raised its position in shares of Fluence Energy by 79.2% in the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after acquiring an additional 21,597 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in shares of Fluence Energy in the 4th quarter valued at about $1,429,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Fluence Energy during the 3rd quarter valued at about $5,742,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Up 6.9 %

Fluence Energy stock opened at $4.18 on Friday. The firm has a 50 day moving average price of $4.96 and a 200-day moving average price of $12.85. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $26.12. The company has a market capitalization of $758.87 million, a P/E ratio of -83.60 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last released its 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%. As a group, equities analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, the director now directly owns 115,861 shares in the company, valued at approximately $626,808.01. The trade was a 9.45 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ahmed Pasha purchased 15,500 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of $6.48 per share, with a total value of $100,440.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 79,000 shares of company stock worth $499,665 over the last quarter. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FLNC shares. Canaccord Genuity Group lowered their target price on Fluence Energy from $14.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Bank of America downgraded Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Citigroup dropped their price target on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley set a $4.00 target price on Fluence Energy in a report on Wednesday. Finally, Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $25.00 to $7.00 in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Hold” and a consensus price target of $10.95.

Fluence Energy Company 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.