Edgestream Partners L.P. Buys 353,282 Shares of Fluence Energy, Inc. $FLNC

Edgestream Partners L.P. raised its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 1,086.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 385,804 shares of the company’s stock after purchasing an additional 353,282 shares during the quarter. Edgestream Partners L.P.’s holdings in Fluence Energy were worth $5,309,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in FLNC. Price T Rowe Associates Inc. MD grew its stake in shares of Fluence Energy by 5,489.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock worth $60,247,000 after acquiring an additional 2,991,292 shares during the period. Goldman Sachs Group Inc. lifted its position in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after purchasing an additional 2,076,668 shares during the period. Renaissance Technologies LLC bought a new position in Fluence Energy during the first quarter valued at approximately $19,579,000. Jacobs Levy Equity Management Inc. bought a new position in Fluence Energy during the third quarter valued at approximately $14,207,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Fluence Energy in the third quarter worth approximately $12,901,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $13.93 on Friday. The firm has a 50 day moving average of $19.26 and a 200 day moving average of $18.69. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of -38.69 and a beta of 2.75. Fluence Energy, Inc. has a 12-month low of $6.60 and a 12-month high of $33.51.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The business had revenue of $464.89 million during the quarter, compared to analysts’ expectations of $614.93 million. During the same period in the prior year, the company earned ($0.24) earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, research analysts anticipate that Fluence Energy, Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on FLNC. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Fluence Energy in a research report on Thursday, May 7th. Roth Capital raised Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, May 8th. UBS Group raised their price target on Fluence Energy from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Monday, May 11th. Wall Street Zen lowered Fluence Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Truist Financial initiated coverage on Fluence Energy in a research report on Monday, July 13th. They set a “hold” rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy has an average rating of “Hold” and a consensus target price of $19.53.

Insider Activity

In other news, SVP John Zahurancik sold 15,974 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total transaction of $351,907.22. Following the completion of the sale, the senior vice president owned 71,171 shares of the company’s stock, valued at $1,567,897.13. The trade was a 18.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $21.00, for a total value of $60,210,612.00. Following the completion of the sale, the insider owned 11,801,103 shares of the company’s stock, valued at $247,823,163. This trade represents a 19.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,904,146 shares of company stock valued at $61,090,399 in the last 90 days. Company insiders own 0.69% of the company’s stock.

Fluence Energy Company Profile

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.