Renaissance Technologies LLC Invests $19.58 Million in Fluence Energy, Inc. $FLNC

Renaissance Technologies LLC bought a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,422,900 shares of the company’s stock, valued at approximately $19,579,000. Renaissance Technologies LLC owned 0.77% of Fluence Energy as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FLNC. Mizuho Markets Americas LLC boosted its holdings in shares of Fluence Energy by 39.8% in the 1st quarter. Mizuho Markets Americas LLC now owns 190,794 shares of the company’s stock valued at $2,625,000 after acquiring an additional 54,359 shares during the last quarter. Sei Investments Co. increased its stake in shares of Fluence Energy by 4.5% in the first quarter. Sei Investments Co. now owns 16,222 shares of the company’s stock worth $223,000 after acquiring an additional 703 shares during the period. State of Wyoming raised its holdings in shares of Fluence Energy by 444.2% during the first quarter. State of Wyoming now owns 9,812 shares of the company’s stock worth $135,000 after purchasing an additional 8,009 shares during the last quarter. First Trust Advisors LP lifted its position in Fluence Energy by 55.4% during the first quarter. First Trust Advisors LP now owns 1,131,468 shares of the company’s stock valued at $15,569,000 after purchasing an additional 403,199 shares during the period. Finally, KBC Group NV lifted its position in Fluence Energy by 2.9% during the first quarter. KBC Group NV now owns 152,172 shares of the company’s stock valued at $2,094,000 after purchasing an additional 4,300 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Up 13.3%

Shares of Fluence Energy stock opened at $13.47 on Friday. The firm has a 50-day simple moving average of $19.41 and a two-hundred day simple moving average of $18.72. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.91 and a current ratio of 1.43. Fluence Energy, Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $33.51. The company has a market cap of $2.48 billion, a P/E ratio of -37.42 and a beta of 2.75.

Fluence Energy (NASDAQ:FLNC) last posted 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 return on equity of 8.29% and a negative net margin of 1.62%.The firm had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. During the same period last year, the firm earned ($0.24) EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts predict that Fluence Energy, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FLNC has been the topic of several analyst reports. Barclays cut their price target on Fluence Energy from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, April 13th. Citigroup upgraded Fluence Energy from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $26.00 to $24.00 in a research note on Wednesday, July 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Fluence Energy in a report on Thursday, May 7th. Glj Research assumed coverage on Fluence Energy in a research report on Wednesday, July 1st. They set a “buy” rating and a $26.00 price target for the company. Finally, Canaccord Genuity Group set a $28.00 price target on Fluence Energy in a report on Friday, May 8th. One investment 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, the company currently has an average rating of “Hold” and an average target price of $19.53.

Insiders Place Their Bets

In other news, SVP John Zahurancik sold 16,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $25.18, for a total transaction of $402,880.00. Following the transaction, the senior vice president owned 87,145 shares in the company, valued at $2,194,311.10. This trade represents a 15.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director owned 58,550 shares in the company, valued at $1,463,750. This trade represents a 7.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 2,904,146 shares of company stock worth $61,090,399. 0.69% of the stock is owned by corporate insiders.

Fluence Energy 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.