FirstWave Capital Management LLC Makes New Investment in Fluence Energy, Inc. $FLNC

FirstWave Capital Management LLC purchased a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 88,375 shares of the company’s stock, valued at approximately $1,757,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FLNC. Legal & General Group Plc increased its holdings in shares of Fluence Energy by 882.1% in the 4th quarter. Legal & General Group Plc now owns 738,898 shares of the company’s stock worth $14,615,000 after purchasing an additional 663,660 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Fluence Energy by 194.3% during the first quarter. Y Intercept Hong Kong Ltd now owns 177,037 shares of the company’s stock valued at $2,436,000 after purchasing an additional 116,882 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Fluence Energy by 24.4% during the first quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock valued at $42,460,000 after purchasing an additional 604,983 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Fluence Energy during the first quarter valued at $19,579,000. Finally, Hel Ved Capital Management Ltd purchased a new stake in shares of Fluence Energy during the fourth quarter valued at $1,735,000. Institutional investors own 53.16% of the company’s stock.

Insider Buying and Selling at Fluence Energy

In related news, SVP John Zahurancik sold 16,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $25.18, for a total value of $402,880.00. Following the sale, the senior vice president directly owned 87,145 shares of the company’s stock, valued at $2,194,311.10. This represents a 15.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Harald von Heynitz sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the sale, the director directly owned 58,550 shares of the company’s stock, valued at $1,463,750. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,974 shares of company stock valued at $879,787 over the last ninety days. 0.69% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FLNC has been the subject of several research reports. Truist Financial started coverage on shares of Fluence Energy in a report on Monday, July 13th. They set a “hold” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on shares of Fluence Energy from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Roth Capital set a $18.00 target price on shares of Fluence Energy in a research note on Friday, August 7th. Citigroup lowered their price target on Fluence Energy from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Royal Bank Of Canada dropped their price target on Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.73.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $10.35 on Friday. The firm has a fifty day simple moving average of $13.78 and a two-hundred day simple moving average of $16.42. The company has a quick ratio of 0.89, a current ratio of 1.34 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.91 billion, a P/E ratio of -16.97 and a beta of 2.74. Fluence Energy, Inc. has a 52 week low of $6.60 and a 52 week high of $33.51.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. The company had revenue of $649.85 million during the quarter, compared to analysts’ expectations of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. On average, analysts expect that Fluence Energy, Inc. will post -0.51 earnings per share for the current fiscal year.

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.