Lisanti Capital Growth LLC Takes Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Lisanti Capital Growth LLC purchased a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,965 shares of the company’s stock, valued at approximately $1,192,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. DNB Asset Management AS purchased a new stake in shares of Fluence Energy during the 4th quarter worth about $666,000. Schroder Investment Management Group grew its holdings in Fluence Energy by 65.2% in 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 period. Wellington Management Group LLP purchased a new stake in shares of Fluence Energy in the third quarter valued at approximately $5,916,000. Assenagon Asset Management S.A. raised its stake in shares of Fluence Energy by 6.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock worth $326,000 after buying an additional 849 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Fluence Energy by 43.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 909,841 shares of the company’s stock valued at $22,364,000 after buying an additional 275,489 shares in the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Price Performance

Shares of Fluence Energy stock traded down $0.33 during trading on Tuesday, hitting $20.82. 1,649,177 shares of the stock were exchanged, compared to its average volume of 2,216,082. The firm’s 50-day moving average price is $16.20 and its 200 day moving average price is $19.12. Fluence Energy, Inc. has a 12-month low of $13.03 and a 12-month high of $31.32.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $363.96 million during 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 company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) EPS. Equities analysts expect that Fluence Energy, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target for the company in a research report on Monday, February 26th. The Goldman Sachs Group cut their price objective on Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Wednesday, April 3rd. Piper Sandler dropped their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upgraded 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and a consensus 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.