Fluence Energy, Inc. (NASDAQ:FLNC) Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNCFree Report) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,320 shares of the company’s stock after acquiring an additional 2,376 shares during the quarter. Amalgamated Bank’s holdings in Fluence Energy were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank boosted its position in shares of Fluence Energy by 37.7% during the 4th quarter. Swiss National Bank now owns 123,900 shares of the company’s stock valued at $2,955,000 after acquiring an additional 33,900 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Fluence Energy during the 4th quarter valued at about $382,000. Russell Investments Group Ltd. boosted its position in shares of Fluence Energy by 25,534.1% during the 4th quarter. Russell Investments Group Ltd. now owns 33,068 shares of the company’s stock valued at $789,000 after acquiring an additional 32,939 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Fluence Energy by 145.5% during the 4th quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock valued at $68,689,000 after acquiring an additional 1,706,808 shares during the last quarter. Finally, Flputnam Investment Management Co. lifted its position in Fluence Energy by 111.1% in the fourth quarter. Flputnam Investment Management Co. now owns 18,890 shares of the company’s stock valued at $451,000 after buying an additional 9,941 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

FLNC stock opened at $20.04 on Thursday. The company’s 50 day moving average price is $17.06 and its 200 day moving average price is $19.18. Fluence Energy, Inc. has a fifty-two week low of $13.03 and a fifty-two week high of $31.32. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -51.38 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNCGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The firm had revenue of $623.14 million for the quarter, compared to analyst estimates of $538.42 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. Equities analysts forecast that Fluence Energy, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Piper Sandler decreased their target price on shares of Fluence Energy from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Roth Mkm reaffirmed a “buy” rating and issued a $27.00 target price (down previously from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.06.

Read Our Latest Analysis on FLNC

Fluence Energy Company Profile

(Free Report)

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.

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Institutional Ownership by Quarter for Fluence Energy (NASDAQ:FLNC)

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