Shelton Capital Management Purchases Shares of 40,100 Fluence Energy, Inc. (NASDAQ:FLNC)

Shelton Capital Management purchased a new position in Fluence Energy, Inc. (NASDAQ:FLNC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,100 shares of the company’s stock, valued at approximately $637,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Duff & Phelps Investment Management Co. raised its holdings in shares of Fluence Energy by 5.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock valued at $432,000 after acquiring an additional 1,432 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its stake in Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock valued at $352,000 after purchasing an additional 1,500 shares in the last quarter. KBC Group NV lifted its position in Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares during the last quarter. Swiss National Bank grew its stake in Fluence Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 126,800 shares of the company’s stock worth $2,014,000 after buying an additional 1,800 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Fluence Energy by 14.5% in the 4th quarter. New York State Common Retirement Fund now owns 18,995 shares of the company’s stock worth $302,000 after buying an additional 2,400 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FLNC shares. Canaccord Genuity Group cut their target price on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Citigroup decreased their price objective on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Roth Mkm lowered Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. Barclays reissued an “equal weight” rating and set a $5.00 price target (down from $9.00) on shares of Fluence Energy in a research note on Tuesday. Finally, Truist Financial reduced their target price on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Fluence Energy currently has an average rating of “Hold” and a consensus target price of $13.79.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the transaction, the director now owns 115,861 shares of the company’s stock, valued at $626,808.01. This trade represents a 9.45 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Julian Nebreda bought 23,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,455 shares of the company’s stock, valued at approximately $764,889.25. The trade was a 24.24 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 79,000 shares of company stock valued at $499,665. Corporate insiders own 0.65% of the company’s stock.

Fluence Energy Stock Up 13.3 %

FLNC stock opened at $4.42 on Thursday. Fluence Energy, Inc. has a fifty-two week low of $3.63 and a fifty-two week high of $26.12. The company has a market capitalization of $802.45 million, a price-to-earnings ratio of -88.40 and a beta of 2.48. The business’s 50 day moving average price is $6.34 and its two-hundred day moving average price is $14.35. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

About Fluence Energy

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.