Erste Asset Management GmbH Has $18.06 Million Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Erste Asset Management GmbH increased its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 15.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,111,629 shares of the company’s stock after buying an additional 148,857 shares during the period. Erste Asset Management GmbH’s holdings in Fluence Energy were worth $18,058,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the period. Point72 DIFC Ltd bought a new position in shares of Fluence Energy in the third quarter worth approximately $74,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Fluence Energy during the 4th quarter worth $79,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fluence Energy during the 3rd quarter valued at about $87,000. Finally, Morse Asset Management Inc purchased a new position in shares of Fluence Energy during the third quarter worth approximately $175,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the purchase, the director now owns 115,861 shares of the company’s stock, valued at $626,808.01. The trade was a 9.45 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ahmed Pasha purchased 15,500 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price 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. This represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 89,000 shares of company stock valued at $655,365. 0.65% of the stock is owned by corporate insiders.

Fluence Energy Stock Performance

FLNC opened at $5.28 on Thursday. The company has a market cap of $958.58 million, a PE ratio of -105.60 and a beta of 2.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. Fluence Energy, Inc. has a 52-week low of $4.79 and a 52-week high of $26.12. The stock has a 50-day moving average of $10.87 and a 200-day moving average of $16.61.

Fluence Energy (NASDAQ:FLNC) last issued its 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 net margin of 0.08% and a negative return on equity of 0.36%. As a group, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FLNC shares. Barclays dropped their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Citigroup dropped their target price on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Roth Capital cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group cut their target price on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.