Prudential Financial Inc. Purchases 24,800 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Prudential Financial Inc. increased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,925 shares of the company’s stock after purchasing an additional 24,800 shares during the period. Prudential Financial Inc. owned about 0.13% of Fluence Energy worth $3,842,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLNC. Point72 DIFC Ltd bought a new stake in Fluence Energy in the 3rd quarter valued at $74,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fluence Energy in the third quarter valued at about $87,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Fluence Energy in the fourth quarter valued at about $79,000. Morse Asset Management Inc bought a new position in Fluence Energy during the third quarter worth about $175,000. Finally, Blueshift Asset Management LLC acquired a new stake in Fluence Energy during the fourth quarter valued at approximately $176,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. Truist Financial cut their price objective on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Susquehanna cut their price target on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a report on Wednesday, February 12th. Finally, Guggenheim cut shares of Fluence Energy from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $26.00 to $6.00 in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.34.

Insider Activity at Fluence Energy

In other Fluence Energy news, CEO Julian Nebreda bought 23,500 shares of Fluence Energy stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the acquisition, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. The trade was a 24.24 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the acquisition, the director now directly owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This represents a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 79,000 shares of company stock worth $499,665. 0.65% of the stock is currently owned by company insiders.

Fluence Energy Stock Performance

Shares of Fluence Energy stock opened at $4.80 on Wednesday. Fluence Energy, Inc. has a 52 week low of $4.63 and a 52 week high of $26.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The stock has a market capitalization of $871.44 million, a price-to-earnings ratio of -96.00 and a beta of 2.49. The firm has a fifty day moving average of $7.80 and a two-hundred day moving average of $15.23.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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 predict that Fluence Energy, Inc. will post 0.08 EPS for the current 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.