Credit Capital Investments LLC Decreases Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Credit Capital Investments LLC decreased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 40.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the company’s stock after selling 24,000 shares during the quarter. Fluence Energy makes up approximately 0.7% of Credit Capital Investments LLC’s portfolio, making the stock its 18th biggest position. Credit Capital Investments LLC’s holdings in Fluence Energy were worth $556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new position in shares of Fluence Energy in the third quarter valued at approximately $22,059,000. Point72 Asset Management L.P. acquired a new position in shares of Fluence Energy in the third quarter valued at approximately $21,809,000. Principal Financial Group Inc. acquired a new position in shares of Fluence Energy in the third quarter valued at approximately $5,742,000. Zimmer Partners LP acquired a new position in shares of Fluence Energy in the third quarter valued at approximately $5,678,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Fluence Energy by 73.7% in the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after purchasing an additional 227,549 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $5.51 on Wednesday. The business’s 50-day moving average price is $9.91 and its 200 day moving average price is $16.23. Fluence Energy, Inc. has a twelve month low of $4.79 and a twelve month high of $26.12. The company has a market capitalization of $1.00 billion, a PE ratio of -110.20 and a beta of 2.49. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate 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%. On average, research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Ahmed Pasha purchased 15,500 shares of the company’s stock in a transaction on Friday, February 14th. The stock was bought at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the purchase, the chief financial officer now directly owns 24,703 shares of the company’s stock, valued at $160,075.44. The trade was a 168.42 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 89,000 shares of company stock worth $655,365 over the last three months. 0.65% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. Truist Financial dropped their price objective on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Roth Mkm lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $6.50 in a report on Wednesday, February 12th. Piper Sandler dropped their price objective on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group decreased their target price on Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.34.

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.