117,767 Shares in Fluence Energy, Inc. (NASDAQ:FLNC) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the fourth quarter, Holdings Channel reports. The firm acquired 117,767 shares of the company’s stock, valued at approximately $1,870,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new position in Fluence Energy in the 3rd quarter worth about $309,000. Charles Schwab Investment Management Inc. raised its holdings in Fluence Energy by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 501,940 shares of the company’s stock worth $11,399,000 after buying an additional 25,143 shares during the last quarter. FMR LLC raised its holdings in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Fluence Energy by 2.2% in the third 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 buying an additional 3,395 shares in the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Fluence Energy by 127.7% during the third quarter. Verition Fund Management LLC now owns 54,545 shares of the company’s stock valued at $1,239,000 after buying an additional 30,586 shares during the last quarter. 53.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FLNC shares. Truist Financial decreased their price objective on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Citigroup decreased their price target on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. The Goldman Sachs Group reduced their price objective on Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, Piper Sandler decreased their target price on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.34.

Fluence Energy Stock Performance

NASDAQ:FLNC opened at $4.86 on Thursday. 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 has a 50-day simple moving average of $7.63 and a two-hundred day simple moving average of $15.15. The firm has a market capitalization of $882.33 million, a PE ratio of -97.20 and a beta of 2.49. Fluence Energy, Inc. has a 52-week low of $4.61 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data 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 net margin of 0.08% and a negative return on equity of 0.36%. Analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Fluence Energy news, CEO Julian Nebreda bought 23,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $6.35 per share, with a total value of $149,225.00. Following the purchase, the chief executive officer now owns 120,455 shares of the company’s stock, valued at $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost 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 in the company, valued at $626,808.01. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 79,000 shares of company stock worth $499,665 over the last three months. 0.65% of the stock is currently owned by company insiders.

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.