Intech Investment Management LLC Acquires Shares of 13,608 Fluence Energy, Inc. (NASDAQ:FLNC)

Intech Investment Management LLC bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,608 shares of the company’s stock, valued at approximately $309,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLNC. Price T Rowe Associates Inc. MD raised its position in shares of Fluence Energy by 10.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,689 shares of the company’s stock worth $394,000 after acquiring an additional 2,081 shares during the last quarter. Comerica Bank raised its position in shares of Fluence Energy by 79.1% during the first quarter. Comerica Bank now owns 4,211 shares of the company’s stock worth $73,000 after acquiring an additional 1,860 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Fluence Energy by 264.9% during the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after purchasing an additional 2,146 shares during the period. Sanders Morris Harris LLC acquired a new stake in shares of Fluence Energy during the second quarter worth $2,683,000. Finally, Sax Wealth Advisors LLC acquired a new stake in shares of Fluence Energy during the second quarter worth $184,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Down 6.8 %

Shares of NASDAQ:FLNC opened at $17.08 on Thursday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 131.38, a price-to-earnings-growth ratio of 0.62 and a beta of 2.39. The company has a 50-day moving average price of $20.85 and a 200-day moving average price of $19.65. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.39.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Fluence Energy’s revenue was up 82.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 earnings per share. As a group, research analysts forecast that Fluence Energy, Inc. will post 0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FLNC. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. BMO Capital Markets boosted their target price on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada decreased their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Guggenheim raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Friday, August 9th. Finally, BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.85.

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.