SCP Investment LP Grows Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

SCP Investment LP grew its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 66.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 61,400 shares of the company’s stock after purchasing an additional 24,600 shares during the quarter. Fluence Energy accounts for 0.7% of SCP Investment LP’s holdings, making the stock its 17th largest holding. SCP Investment LP’s holdings in Fluence Energy were worth $975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. grew its stake in Fluence Energy by 5.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock valued at $432,000 after buying an additional 1,432 shares in the last quarter. Norges Bank bought a new stake in shares of Fluence Energy during the 4th quarter valued at $1,321,000. Blair William & Co. IL purchased a new stake in Fluence Energy during the 4th quarter worth about $373,000. Prudential Financial Inc. boosted its stake in Fluence Energy by 11.4% in the 4th quarter. Prudential Financial Inc. now owns 241,925 shares of the company’s stock worth $3,842,000 after purchasing an additional 24,800 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after buying an additional 110,256 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Shares of FLNC opened at $4.98 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The stock has a market cap of $904.11 million, a P/E ratio of -99.60 and a beta of 2.49. The business’s 50 day moving average price is $8.19 and its 200-day moving average price is $15.50. Fluence Energy, Inc. has a 52 week low of $4.79 and a 52 week high of $26.12.

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

Insider Activity at Fluence Energy

In other Fluence Energy news, CEO Julian Nebreda acquired 23,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $6.35 per share, with a total value of $149,225.00. Following the transaction, the chief executive officer now owns 120,455 shares of the company’s stock, valued at $764,889.25. The trade was a 24.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now owns 115,861 shares in the company, valued at approximately $626,808.01. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 79,000 shares of company stock valued at $499,665. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FLNC shares. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Guggenheim downgraded Fluence Energy from a “buy” rating to a “sell” rating and dropped their target price for the stock from $26.00 to $6.00 in a research report on Tuesday, February 11th. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, Barclays decreased their target price on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy has an average rating of “Hold” and a consensus target price of $14.34.

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.