202,063 Shares in Fluence Energy, Inc. $FLNC Bought by Pier Capital LLC

Pier Capital LLC purchased a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the third quarter, HoldingsChannel reports. The fund purchased 202,063 shares of the company’s stock, valued at approximately $2,182,000.

Several other institutional investors have also bought and sold shares of FLNC. Goldman Sachs Group Inc. grew its stake in shares of Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after buying an additional 2,076,668 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Fluence Energy by 1,794.8% during the 2nd quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock valued at $12,539,000 after buying an additional 1,770,090 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Fluence Energy by 10.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,683,637 shares of the company’s stock valued at $11,298,000 after buying an additional 153,614 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $12,901,000. Finally, Erste Asset Management GmbH lifted its holdings in shares of Fluence Energy by 369.2% in the 3rd quarter. Erste Asset Management GmbH now owns 1,100,192 shares of the company’s stock valued at $12,542,000 after acquiring an additional 865,688 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Fluence Energy stock opened at $16.42 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.48 and a quick ratio of 1.08. Fluence Energy, Inc. has a 1-year low of $3.46 and a 1-year high of $33.51. The firm has a market capitalization of $3.02 billion, a P/E ratio of -37.32 and a beta of 2.99. The company’s 50-day moving average is $21.37 and its 200 day moving average is $17.77.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FLNC shares. Jefferies Financial Group set a $24.00 price objective on Fluence Energy in a research note on Monday, February 9th. Citigroup raised their price objective on Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Johnson Rice reiterated a “hold” rating and issued a $18.00 target price on shares of Fluence Energy in a report on Monday, December 8th. Royal Bank Of Canada reissued a “sector perform” rating and set a $12.00 target price on shares of Fluence Energy in a research report on Tuesday, January 20th. Finally, 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. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.25.

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.