Pier Capital LLC Purchases Shares of 202,063 Fluence Energy, Inc. $FLNC

Pier Capital LLC purchased a new position in Fluence Energy, Inc. (NASDAQ:FLNC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 202,063 shares of the company’s stock, valued at approximately $2,182,000. Pier Capital LLC owned 0.11% of Fluence Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Fluence Energy in the 3rd quarter worth $810,000. ANTIPODES PARTNERS Ltd raised its holdings in Fluence Energy by 64,545.5% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,091,216 shares of the company’s stock valued at $11,786,000 after acquiring an additional 1,089,528 shares during the period. Essex Investment Management Co. LLC bought a new stake in Fluence Energy during the third quarter valued at about $574,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Fluence Energy by 50.9% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 301,838 shares of the company’s stock valued at $3,260,000 after acquiring an additional 101,838 shares in the last quarter. Finally, CenterBook Partners LP lifted its position in shares of Fluence Energy by 99.8% in the third quarter. CenterBook Partners LP now owns 446,711 shares of the company’s stock valued at $4,824,000 after acquiring an additional 223,099 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Trading Down 4.0%

Shares of Fluence Energy stock opened at $16.42 on Friday. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $33.51. The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $21.37 and a 200-day moving average price of $17.77. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -37.32 and a beta of 2.99.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, February 4th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). Fluence Energy had a negative return on equity of 10.10% and a negative net margin of 2.04%.The firm had revenue of $475.23 million during the quarter, compared to analysts’ expectations of $444.23 million. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. Fluence Energy’s quarterly revenue was up 154.4% on a year-over-year basis. Equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FLNC shares. Citigroup increased their target price on Fluence Energy from $7.50 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Morgan Stanley set a $16.00 price target on Fluence Energy in a report on Monday, January 26th. Weiss Ratings restated a “sell (d)” rating on shares of Fluence Energy in a research note on Monday, December 29th. Johnson Rice reaffirmed a “hold” rating and set a $18.00 price objective on shares of Fluence Energy in a report on Monday, December 8th. Finally, Canaccord Genuity Group lifted their price objective on shares of Fluence Energy from $10.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.25.

Fluence Energy Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.