Intech Investment Management LLC Has $369,000 Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Intech Investment Management LLC grew its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 70.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,210 shares of the company’s stock after purchasing an additional 9,602 shares during the period. Intech Investment Management LLC’s holdings in Fluence Energy were worth $369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sanders Morris Harris LLC acquired a new stake in Fluence Energy during the fourth quarter worth about $812,000. Cidel Asset Management Inc. acquired a new stake in shares of Fluence Energy during the 4th quarter worth approximately $350,000. SG Americas Securities LLC increased its position in shares of Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after purchasing an additional 21,597 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in shares of Fluence Energy in the fourth quarter valued at $1,429,000. Finally, FMR LLC lifted its position 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 purchasing an additional 132,868 shares during the period. Institutional investors own 53.16% of the company’s stock.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $5.41 per share, with a total value of $54,100.00. Following the completion of the purchase, the director now owns 115,861 shares in the company, valued at $626,808.01. The trade was a 9.45 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ahmed Pasha bought 15,500 shares of the stock in a transaction on Friday, February 14th. The shares were acquired at an average cost of $6.48 per share, with a total value of $100,440.00. Following the acquisition, the chief financial officer now directly owns 24,703 shares in the company, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 79,000 shares of company stock valued at $499,665. 0.65% of the stock is currently owned by insiders.

Fluence Energy Stock Performance

FLNC stock opened at $5.42 on Wednesday. The stock has a market capitalization of $984.00 million, a PE ratio of -108.40 and a beta of 2.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The company has a 50 day moving average price of $8.80 and a 200 day moving average price of $15.77. Fluence Energy, Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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.

Analysts Set New Price Targets

FLNC has been the topic of several analyst reports. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $8.00 in a report on Wednesday, February 12th. Canaccord Genuity Group dropped their price target on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Citigroup dropped their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Finally, Mizuho began coverage on Fluence Energy in a research note on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.34.

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.