Geode Capital Management LLC Grows Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Geode Capital Management LLC raised its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,508,003 shares of the company’s stock after acquiring an additional 60,633 shares during the period. Geode Capital Management LLC’s holdings in Fluence Energy were worth $34,253,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after purchasing an additional 132,868 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Fluence Energy during the 3rd quarter worth $22,059,000. XTX Topco Ltd acquired a new stake in shares of Fluence Energy in the 3rd quarter worth $825,000. Nicola Wealth Management LTD. boosted its holdings in shares of Fluence Energy by 62.0% in the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock valued at $1,840,000 after acquiring an additional 31,000 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Fluence Energy by 296.8% during the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after acquiring an additional 135,957 shares during the period. 53.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FLNC shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Royal Bank of Canada dropped their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Piper Sandler raised their target price on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Truist Financial upped their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Canaccord Genuity Group reduced their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Stock Up 1.2 %

NASDAQ FLNC opened at $16.13 on Thursday. Fluence Energy, Inc. has a fifty-two week low of $12.74 and a fifty-two week high of $26.12. The business has a fifty day moving average of $19.42 and a 200-day moving average of $19.03. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 124.08, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. As a group, analysts anticipate that Fluence Energy, Inc. will post 0.56 EPS for the current year.

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.