Tidal Investments LLC Purchases 116,064 Shares of Fluence Energy, Inc. $FLNC

Tidal Investments LLC boosted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 126.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 207,694 shares of the company’s stock after buying an additional 116,064 shares during the period. Tidal Investments LLC’s holdings in Fluence Energy were worth $4,129,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of Fluence Energy by 24.4% during the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock worth $42,460,000 after acquiring an additional 604,983 shares in the last quarter. California State Teachers Retirement System lifted its stake in Fluence Energy by 2,999.1% during the second quarter. California State Teachers Retirement System now owns 1,931,223 shares of the company’s stock worth $38,393,000 after purchasing an additional 1,868,908 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Fluence Energy in the 1st quarter valued at $19,579,000. First Trust Advisors LP raised its holdings in shares of Fluence Energy by 55.4% during the 1st quarter. First Trust Advisors LP now owns 1,131,468 shares of the company’s stock worth $15,569,000 after buying an additional 403,199 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in Fluence Energy in the fourth quarter valued at about $16,964,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $9.41 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34. Fluence Energy, Inc. has a 52 week low of $7.09 and a 52 week high of $33.51. The firm has a market cap of $1.74 billion, a PE ratio of -15.43 and a beta of 2.74. The firm’s fifty day moving average is $12.81 and its 200-day moving average is $16.13.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank Of Canada lowered their target price on Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. Piper Sandler assumed coverage on shares of Fluence Energy in a research report on Tuesday, September 8th. They set an “underweight” rating and a $6.00 price objective for the company. Zacks Research lowered shares of Fluence Energy from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fluence Energy in a research note on Wednesday, August 5th. Finally, Mizuho lowered their price target on shares of Fluence Energy from $15.00 to $8.00 and set an “underperform” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.89.

Insider Activity at Fluence Energy

In other Fluence Energy news, SVP John Zahurancik sold 15,974 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $22.03, for a total value of $351,907.22. Following the sale, the senior vice president owned 71,171 shares in the company, valued at approximately $1,567,897.13. The trade was a 18.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.69% of the company’s stock.

About Fluence Energy

Fluence Energy, Inc is a global energy storage and software company that develops solutions to support the transition to cleaner and more reliable electricity systems. The company provides products and services for utilities, renewable energy developers, commercial and industrial customers, and other power market participants.

Its offerings include large-scale battery energy storage systems, renewable energy integration solutions, and digital applications for managing and optimizing energy assets.