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

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

Several other institutional investors and hedge funds have also recently modified their holdings of FLNC. Erste Asset Management GmbH bought a new stake in Fluence Energy during the 3rd quarter valued at $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy in the third quarter valued at about $21,809,000. Principal Financial Group Inc. purchased a new stake in Fluence Energy in the third quarter worth about $5,742,000. Zimmer Partners LP bought a new position in Fluence Energy during the 3rd quarter worth about $5,678,000. Finally, JPMorgan Chase & Co. increased its position in Fluence Energy by 73.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after purchasing an additional 227,549 shares during the period. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Down 4.9 %

Shares of FLNC stock opened at $5.03 on Friday. Fluence Energy, Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $26.12. The firm has a market capitalization 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 quick ratio of 1.14 and a current ratio of 1.57. The stock’s 50-day simple moving average is $8.38 and its 200-day simple moving average is $15.62.

Fluence Energy (NASDAQ:FLNC) last issued 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 return on equity of 0.36% and a negative net margin of 0.08%. Equities analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

FLNC has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Jefferies Financial Group cut 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 note on Wednesday, January 22nd. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Finally, Citigroup decreased their price target on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.34.

Insider Buying and Selling

In related news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ahmed Pasha acquired 15,500 shares of the firm’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 acquisition, the chief financial officer now owns 24,703 shares in the company, 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 a total of 79,000 shares of company stock valued at $499,665 over the last 90 days. Insiders own 0.65% of the company’s stock.

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.