SG Americas Securities LLC Buys 21,597 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

SG Americas Securities LLC grew its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 79.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 48,883 shares of the company’s stock after acquiring an additional 21,597 shares during the quarter. SG Americas Securities LLC’s holdings in Fluence Energy were worth $776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Sanders Morris Harris LLC purchased a new stake in Fluence Energy during the fourth quarter valued at $812,000. FMR LLC grew its stake in shares of Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy during the 3rd quarter valued at about $5,742,000. Erste Asset Management GmbH bought a new position in shares of Fluence Energy in the 3rd quarter worth approximately $22,059,000. Finally, XTX Topco Ltd purchased a new position in shares of Fluence Energy in the third quarter worth approximately $825,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLNC. 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 research report on Wednesday, December 18th. Susquehanna upped their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group reduced their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Finally, Royal Bank of Canada decreased their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Fluence Energy Stock Up 4.7 %

Shares of Fluence Energy stock opened at $13.25 on Thursday. Fluence Energy, Inc. has a twelve month low of $12.43 and a twelve month high of $26.12. The business has a 50-day moving average price of $16.65 and a 200-day moving average price of $18.41. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 101.92, a PEG ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm earned $0.02 EPS. The company’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, equities analysts expect that Fluence Energy, Inc. will post 0.55 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were acquired 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 approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

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.