Wellington Management Group LLP Increases Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Wellington Management Group LLP lifted its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 29.4% in the fourth quarter, HoldingsChannel reports. The firm owned 755,718 shares of the company’s stock after buying an additional 171,836 shares during the period. Wellington Management Group LLP’s holdings in Fluence Energy were worth $12,001,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FLNC. Vanguard Group Inc. lifted its position in Fluence Energy by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after buying an additional 110,256 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after purchasing an additional 296,325 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after purchasing an additional 60,633 shares in the last quarter. Erste Asset Management GmbH lifted its position in shares of Fluence Energy by 15.5% during the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock worth $18,058,000 after purchasing an additional 148,857 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Fluence Energy by 73.7% during the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock worth $12,177,000 after purchasing an additional 227,549 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FLNC. Roth Capital cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Truist Financial reduced their price target on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Canaccord Genuity Group reduced their target price on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Finally, Piper Sandler reduced their target price on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.79.

Insider Transactions at Fluence Energy

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

Fluence Energy Stock Performance

Shares of Fluence Energy stock opened at $4.42 on Thursday. The firm has a market capitalization of $802.45 million, a P/E ratio of -88.40 and a beta of 2.48. Fluence Energy, Inc. has a 52 week low of $3.63 and a 52 week high of $26.12. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $6.34 and its two-hundred day moving average is $14.35.

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

Fluence Energy Company Profile

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.