ExodusPoint Capital Management LP Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

ExodusPoint Capital Management LP acquired a new position in Fluence Energy, Inc. (NASDAQ:FLNC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 270,043 shares of the company’s stock, valued at approximately $4,288,000. ExodusPoint Capital Management LP owned approximately 0.15% of Fluence Energy as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trexquant Investment LP raised its position in Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock worth $13,918,000 after acquiring an additional 747,103 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Fluence Energy by 19.1% in the 4th 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. Principal Financial Group Inc. acquired a new stake in Fluence Energy during the third quarter valued at approximately $5,742,000. JPMorgan Chase & Co. boosted its holdings in 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 buying an additional 227,549 shares in the last quarter. Finally, Royce & Associates LP bought a new position in shares of Fluence Energy in the fourth quarter valued at $3,255,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Down 0.2 %

FLNC stock opened at $4.31 on Monday. The firm has a market cap of $782.48 million, a PE ratio of -86.20 and a beta of 2.48. Fluence Energy, Inc. has a 1 year low of $3.63 and a 1 year high of $26.12. The company has a fifty day simple moving average of $7.25 and a 200 day simple moving average of $14.86. 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 released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (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%. Sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on FLNC. Roth Capital lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial dropped their price target on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Barclays decreased their target price on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Robert W. Baird restated a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Finally, Roth Mkm lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.98.

Insider Transactions at Fluence Energy

In other Fluence Energy news, CEO Julian Nebreda purchased 23,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the transaction, the chief executive officer now owns 120,455 shares in the company, valued at $764,889.25. This trade represents a 24.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 acquired at an average cost of $5.41 per share, with a total value of $54,100.00. Following the transaction, the director now directly owns 115,861 shares in the company, valued at $626,808.01. The trade was a 9.45 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 79,000 shares of company stock worth $499,665. 0.65% of the stock is owned by insiders.

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.