Essex Investment Management Co. LLC Acquires Shares of 53,185 Fluence Energy, Inc. $FLNC

Essex Investment Management Co. LLC bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC) during the third quarter, HoldingsChannel.com reports. The fund bought 53,185 shares of the company’s stock, valued at approximately $574,000.

A number of other large investors have also recently made changes to their positions in FLNC. ProShare Advisors LLC boosted its stake in shares of Fluence Energy by 55.4% during the third quarter. ProShare Advisors LLC now owns 36,652 shares of the company’s stock valued at $396,000 after purchasing an additional 13,063 shares during the period. Jones Financial Companies Lllp lifted its holdings in Fluence Energy by 8.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 13,452 shares of the company’s stock valued at $160,000 after buying an additional 1,063 shares in the last quarter. TFB Advisors LLC boosted its position in Fluence Energy by 13.8% in the 3rd quarter. TFB Advisors LLC now owns 18,253 shares of the company’s stock valued at $197,000 after buying an additional 2,215 shares during the period. AlphaQuest LLC boosted its position in Fluence Energy by 132.0% in the 3rd quarter. AlphaQuest LLC now owns 22,579 shares of the company’s stock valued at $244,000 after buying an additional 12,845 shares during the period. Finally, Activest Wealth Management grew its stake in Fluence Energy by 128.9% in the 3rd quarter. Activest Wealth Management now owns 23,185 shares of the company’s stock worth $250,000 after acquiring an additional 13,055 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Trading Down 2.1%

Shares of NASDAQ:FLNC opened at $18.99 on Wednesday. The company has a market capitalization of $3.47 billion, a PE ratio of -43.16 and a beta of 2.90. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.80. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $33.51. The business’s fifty day simple moving average is $23.42 and its 200-day simple moving average is $16.60.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, February 4th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). Fluence Energy had a negative net margin of 2.04% and a negative return on equity of 10.10%. The company had revenue of $475.23 million for the quarter, compared to the consensus estimate of $444.23 million. During the same period in the previous year, the business earned ($0.32) EPS. Fluence Energy’s revenue for the quarter was up 154.4% compared to the same quarter last year. As a group, equities research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLNC has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fluence Energy in a research note on Monday, December 29th. Bank of America raised their price objective on Fluence Energy from $17.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. Citigroup lifted their target price on Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Canaccord Genuity Group increased their price target on Fluence Energy from $10.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. raised their price target on Fluence Energy from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.50.

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.