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

by · The Cerbat Gem

FirstWave Capital Management LLC purchased a new position in Fluence Energy, Inc. (NASDAQ:FLNC – Free Report) in the 2nd quarter, HoldingsChannel reports. 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 added to or reduced their stakes in FLNC. EverSource Wealth Advisors LLC lifted its position in shares of Fluence Energy by 31.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock valued at $38,000 after buying an additional 672 shares during the last quarter. Sei Investments Co. increased its position in shares of Fluence Energy by 4.5% during the first quarter. Sei Investments Co. now owns 16,222 shares of the company’s stock worth $223,000 after purchasing an additional 703 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Fluence Energy by 10.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,638 shares of the company’s stock valued at $191,000 after purchasing an additional 935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Fluence Energy by 1.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,185 shares of the company’s stock worth $1,082,000 after buying an additional 1,082 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Fluence Energy by 5.8% in the fourth quarter. New York State Common Retirement Fund now owns 20,095 shares of the company’s stock valued at $397,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

FLNC has been the topic of several recent analyst reports. HSBC upgraded shares of Fluence Energy from a “reduce” rating to a “hold” rating and set a $19.00 price objective on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on Fluence Energy from $13.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Citigroup lowered their price target on Fluence Energy from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Roth Capital set a $18.00 price objective on Fluence Energy in a report on Friday, August 7th. Finally, Morgan Stanley set a $15.00 target price on Fluence Energy in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.73.

Get Our Latest Stock Report on Fluence Energy

Fluence Energy Stock Up 1.5%

Shares of FLNC stock opened at $10.35 on Friday. Fluence Energy, Inc. has a twelve month low of $6.60 and a twelve month high of $33.51. The stock has a market cap of $1.91 billion, a P/E ratio of -16.97 and a beta of 2.74. The stock has a 50 day moving average of $13.78 and a 200 day moving average of $16.42. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91.

Fluence Energy (NASDAQ:FLNC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. The firm had revenue of $649.85 million for the quarter, compared to analyst estimates of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.Fluence Energy’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. As a group, sell-side analysts expect that Fluence Energy, Inc. will post -0.51 EPS for the current year.

Insiders Place Their Bets

In related news, SVP John Zahurancik sold 15,974 shares of the firm’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 sale, the senior vice president owned 71,171 shares in the company, valued at approximately $1,567,897.13. This trade represents a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Fluence Energy stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the director directly owned 58,550 shares of the company’s stock, valued at $1,463,750. The trade was a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,974 shares of company stock worth $879,787 over the last three months. 0.69% of the stock is currently owned by insiders.

Fluence Energy Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FLNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fluence Energy, Inc. (NASDAQ:FLNC – Free Report).