First Trust Advisors LP Has $15.57 Million Stock Position in Fluence Energy, Inc. $FLNC

First Trust Advisors LP boosted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNCFree Report) by 55.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,131,468 shares of the company’s stock after buying an additional 403,199 shares during the quarter. First Trust Advisors LP’s holdings in Fluence Energy were worth $15,569,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in Fluence Energy by 1,441.8% during the 1st quarter. AQR Capital Management LLC now owns 900,674 shares of the company’s stock worth $4,368,000 after acquiring an additional 842,257 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Fluence Energy in the 1st quarter valued at $109,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fluence Energy by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,559 shares of the company’s stock valued at $575,000 after purchasing an additional 3,364 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Fluence Energy in the 1st quarter worth $93,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fluence Energy

In other Fluence Energy news, SVP John Zahurancik sold 15,974 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $22.03, for a total transaction of $351,907.22. Following the completion of the transaction, the senior vice president owned 71,171 shares of the company’s stock, valued at $1,567,897.13. This represents a 18.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the transaction, the insider directly owned 11,801,103 shares of the company’s stock, valued at $247,823,163. This represents a 19.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 2,904,146 shares of company stock valued at $61,090,399. 0.69% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on FLNC. Zacks Research raised Fluence Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Truist Financial started coverage on Fluence Energy in a report on Monday, July 13th. They set a “hold” rating and a $16.00 target price on the stock. Glj Research assumed coverage on Fluence Energy in a research report on Wednesday, July 1st. They set a “buy” rating and a $26.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Fluence Energy in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group set a $28.00 price target on shares of Fluence Energy in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.53.

Check Out Our Latest Analysis on Fluence Energy

Fluence Energy Price Performance

FLNC stock opened at $13.47 on Friday. The stock has a 50-day moving average price of $19.41 and a two-hundred day moving average price of $18.72. Fluence Energy, Inc. has a 1 year low of $6.60 and a 1 year high of $33.51. The stock has a market cap of $2.48 billion, a PE ratio of -37.42 and a beta of 2.75. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85.

Fluence Energy (NASDAQ:FLNCGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $464.89 million for the quarter, compared to analyst estimates of $614.93 million. Fluence Energy had a negative return on equity of 8.29% and a negative net margin of 1.62%.The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.24) earnings per share. Equities analysts forecast that Fluence Energy, Inc. will post -0.18 EPS for the current fiscal year.

Fluence Energy Company Profile

(Free Report)

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.

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Institutional Ownership by Quarter for Fluence Energy (NASDAQ:FLNC)

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