Triumph Capital Management Acquires Shares of 16,000 Fluence Energy, Inc. (NASDAQ:FLNC)

Triumph Capital Management acquired a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,000 shares of the company’s stock, valued at approximately $382,000.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in Fluence Energy by 146.9% during the third quarter. FMR LLC now owns 3,959,313 shares of the company’s stock valued at $91,025,000 after purchasing an additional 2,355,849 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Fluence Energy by 2.6% during the third quarter. Vanguard Group Inc. now owns 3,916,034 shares of the company’s stock valued at $90,030,000 after purchasing an additional 98,541 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Fluence Energy by 145.5% during the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock valued at $68,689,000 after purchasing an additional 1,706,808 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Fluence Energy by 65.2% during the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after purchasing an additional 1,063,609 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Fluence Energy by 3.7% during the third quarter. Clearbridge Investments LLC now owns 1,184,398 shares of the company’s stock valued at $27,229,000 after purchasing an additional 42,738 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Stock Up 1.7 %

Shares of FLNC stock opened at $18.14 on Thursday. The stock has a fifty day moving average of $15.86 and a 200 day moving average of $19.13. Fluence Energy, Inc. has a 52 week low of $13.03 and a 52 week high of $31.32.

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

Wall Street Analyst Weigh In

FLNC has been the topic of several analyst reports. Raymond James upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Friday, February 23rd. BMO Capital Markets upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Tuesday, January 16th. Piper Sandler decreased their price target on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group decreased their price target on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $28.56.

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.