Lisanti Capital Growth LLC Acquires Shares of 49,965 Fluence Energy, Inc. (NASDAQ:FLNC)

Lisanti Capital Growth LLC bought a new position in Fluence Energy, Inc. (NASDAQ:FLNC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 49,965 shares of the company’s stock, valued at approximately $1,192,000.

A number of other institutional investors have also made changes to their positions in the company. DNB Asset Management AS acquired a new position in Fluence Energy in the fourth quarter worth $666,000. Schroder Investment Management Group boosted its holdings in shares of Fluence Energy by 65.2% in the 3rd quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after buying an additional 1,063,609 shares during the period. Wellington Management Group LLP bought a new stake in shares of Fluence Energy during the 3rd quarter valued at about $5,916,000. Assenagon Asset Management S.A. raised its stake in Fluence Energy by 6.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock worth $326,000 after acquiring an additional 849 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Fluence Energy by 43.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 909,841 shares of the company’s stock worth $22,364,000 after acquiring an additional 275,489 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on FLNC shares. Piper Sandler lowered their target price on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Susquehanna raised Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a research report on Monday, February 26th. BMO Capital Markets raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Tuesday, January 16th. JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective on the stock in a report on Friday, February 23rd. Finally, Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.56.

Fluence Energy Trading Down 1.6 %

NASDAQ:FLNC traded down $0.33 during trading hours on Tuesday, reaching $20.82. 1,649,177 shares of the company’s stock were exchanged, compared to its average volume of 2,216,082. Fluence Energy, Inc. has a 12 month low of $13.03 and a 12 month high of $31.32. The business’s 50-day simple moving average is $16.20 and its two-hundred day simple moving average is $19.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The company had revenue of $363.96 million for the quarter, compared to the consensus estimate of $403.93 million. During the same period in the prior year, the business earned ($0.21) earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. On average, research analysts anticipate that Fluence Energy, Inc. will post 0.14 EPS for the current fiscal year.

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.