Cinctive Capital Management LP Invests $1.87 Million in Fluence Energy, Inc. (NASDAQ:FLNC)

Cinctive 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 filing with the Securities & Exchange Commission. The firm acquired 117,767 shares of the company’s stock, valued at approximately $1,870,000. Cinctive Capital Management LP owned approximately 0.07% of Fluence Energy as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. raised its holdings in shares of Fluence Energy by 5.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock valued at $432,000 after acquiring an additional 1,432 shares in the last quarter. Lazard Freres Gestion S.A.S. lifted its position in Fluence Energy by 7.3% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock valued at $352,000 after purchasing an additional 1,500 shares during the last quarter. KBC Group NV grew its stake in Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after buying an additional 1,671 shares in the last quarter. Swiss National Bank grew its stake in Fluence Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 126,800 shares of the company’s stock worth $2,014,000 after buying an additional 1,800 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Fluence Energy by 14.5% in the 4th quarter. New York State Common Retirement Fund now owns 18,995 shares of the company’s stock worth $302,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

FLNC opened at $4.86 on Thursday. 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 $882.33 million, a PE ratio of -97.20 and a beta of 2.49. The stock’s 50 day moving average price is $7.63 and its 200-day moving average price is $15.15. Fluence Energy, Inc. has a 52-week low of $4.61 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data 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 return on equity of 0.36% and a negative net margin of 0.08%. On average, equities research analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FLNC. Bank of America lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Piper Sandler decreased their price objective on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, Citigroup reduced their price target on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.34.

Insiders Place Their Bets

In other news, CEO Julian Nebreda acquired 23,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price 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 $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now owns 115,861 shares in the company, valued at approximately $626,808.01. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 79,000 shares of company stock worth $499,665 over the last three months. Company insiders own 0.65% of the company’s stock.

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.