Sanders Morris Harris LLC Makes New $812,000 Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Sanders Morris Harris LLC bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $812,000.

A number of other institutional investors have also recently made changes to their positions in FLNC. US Bancorp DE increased its holdings in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares in the last quarter. CWM LLC grew its stake in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy during the third quarter valued at approximately $87,000. Finally, Blue Trust Inc. boosted its holdings in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FLNC shares. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Susquehanna raised their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. BMO Capital Markets upped their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler boosted their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.65.

Insider Activity

In other news, Director Herman E. Bulls purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Fluence Energy Price Performance

FLNC stock opened at $15.59 on Thursday. Fluence Energy, Inc. has a 1-year low of $12.74 and a 1-year high of $26.12. The business has a 50 day simple moving average of $17.98 and a two-hundred day simple moving average of $18.63. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 119.92, a PEG ratio of 0.53 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Fluence Energy’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 earnings per share. Sell-side analysts anticipate that Fluence Energy, Inc. will post 0.55 EPS for the current fiscal year.

Fluence Energy 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.