Clearbridge Investments LLC Raises Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Clearbridge Investments LLC raised its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 20.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,424,170 shares of the company’s stock after purchasing an additional 239,772 shares during the quarter. Clearbridge Investments LLC owned 0.80% of Fluence Energy worth $33,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FLNC. Assenagon Asset Management S.A. lifted its holdings in shares of Fluence Energy by 6.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock valued at $326,000 after buying an additional 849 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Fluence Energy by 11.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,619 shares of the company’s stock worth $267,000 after purchasing an additional 1,202 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after purchasing an additional 1,388 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Fluence Energy by 116.3% in the 4th quarter. National Bank of Canada FI now owns 2,595 shares of the company’s stock valued at $62,000 after purchasing an additional 1,395 shares during the period. Finally, Swiss National Bank boosted its holdings in Fluence Energy by 1.6% during the third quarter. Swiss National Bank now owns 90,000 shares of the company’s stock worth $2,069,000 after buying an additional 1,400 shares in the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Price Performance

Shares of FLNC opened at $20.21 on Friday. Fluence Energy, Inc. has a 12-month low of $13.03 and a 12-month high of $31.32. The firm has a 50-day moving average price of $17.06 and a 200 day moving average price of $19.18.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The business had revenue of $623.14 million during the quarter, compared to analysts’ expectations of $538.42 million. During the same quarter in the prior year, the company posted ($0.21) EPS. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FLNC. Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Wednesday, April 3rd. Piper Sandler cut their price objective on Fluence Energy from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Friday, February 23rd. Evercore ISI cut their price target on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Finally, Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price objective for the company in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fluence Energy currently has an average rating of “Moderate Buy” and a consensus target price of $29.06.

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.