Royce & Associates LP Purchases Shares of 205,000 Fluence Energy, Inc. (NASDAQ:FLNC)

Royce & Associates LP purchased a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 205,000 shares of the company’s stock, valued at approximately $3,255,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLNC. Point72 DIFC Ltd acquired a new stake in shares of Fluence Energy in the third quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Fluence Energy in the fourth quarter worth $79,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy in the third quarter worth $87,000. Morse Asset Management Inc acquired a new stake in shares of Fluence Energy in the third quarter worth $175,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Fluence Energy in the third quarter worth $212,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. BMO Capital Markets cut Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $22.00 to $10.00 in a research report on Tuesday, February 11th. Susquehanna reduced their target price on Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a research report on Wednesday, February 12th. Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 12th. Finally, Barclays reduced their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $14.34.

Insider Buying and Selling

In other news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ahmed Pasha acquired 15,500 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the transaction, the chief financial officer now 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 bought a total of 89,000 shares of company stock worth $655,365 over the last three months. 0.65% of the stock is currently owned by company insiders.

Fluence Energy Stock Performance

Fluence Energy stock opened at $5.66 on Thursday. The stock has a 50-day simple moving average of $9.68 and a 200 day simple moving average of $16.15. 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 12-month low of $4.79 and a 12-month high of $26.12. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -113.20 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.32) 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%. On average, research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

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.