CenterBook Partners LP Purchases 223,099 Shares of Fluence Energy, Inc. $FLNC

CenterBook Partners LP increased its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 99.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 446,711 shares of the company’s stock after buying an additional 223,099 shares during the period. CenterBook Partners LP owned 0.24% of Fluence Energy worth $4,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FLNC. Canal Insurance CO raised its position in Fluence Energy by 16.0% in the 2nd quarter. Canal Insurance CO now owns 580,000 shares of the company’s stock worth $3,892,000 after buying an additional 80,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Fluence Energy during the 3rd quarter valued at about $810,000. DekaBank Deutsche Girozentrale grew its stake in shares of Fluence Energy by 32.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 509,363 shares of the company’s stock worth $3,157,000 after acquiring an additional 124,203 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $574,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Fluence Energy during the second quarter valued at approximately $160,000. 53.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FLNC has been the topic of several research analyst reports. Canaccord Genuity Group increased their price target on Fluence Energy from $10.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Fluence Energy in a research report on Monday, December 29th. Wall Street Zen raised Fluence Energy from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Jefferies Financial Group set a $24.00 price target on Fluence Energy in a research note on Monday, February 9th. Finally, Citigroup upped their price target on shares of Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.25.

Fluence Energy Price Performance

FLNC stock opened at $17.43 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.08 and a current ratio of 1.48. The company’s fifty day moving average price is $22.81 and its 200-day moving average price is $16.94. Fluence Energy, Inc. has a one year low of $3.46 and a one year high of $33.51. The company has a market capitalization of $3.21 billion, a PE ratio of -39.61 and a beta of 2.90.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Wednesday, February 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). The firm had revenue of $475.23 million for the quarter, compared to the consensus estimate of $444.23 million. Fluence Energy had a negative net margin of 2.04% and a negative return on equity of 10.10%. Fluence Energy’s quarterly revenue was up 154.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) earnings per share. On average, equities analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.