Fidelity Management & Research Co has recently announced that it has increased stake in Fluence Energy Inc (NASDAQ:FLNC) by 156.74%. After grabbing 3.96 million shares, the institutional investor is now in possession of 2.42 million shares of the Utilities Company. The new investment brought the stake of investor firm to 3.34% having worth around $99.3 million. Moreover, The Vanguard Group, Inc. increased its share by 87713.0 to have a control over 3.79 million shares. And Schroder Investment Management Lt raised its holdings to 1.0 million shares by acquiring 2.6 million shares or 2.19% of the stake.
Fluence Energy Inc (FLNC) concluded trading on December 20, 2023 at a closing price of $23.01, with 10.01 million shares of worth about $230.42 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.68% during that period and On Wednesday the price saw a loss of about -15.47%. Currently the company’s common shares owned by public are about 118.90M shares, out of which, 63.88M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 17 times over the past 12 months. They bought 311,926 shares in 10 of the transactions. In 7 selling transactions, insiders dumped 203,204 shares.
BNP Paribas Funds – Energy Transi, Handelsbanken Hallbar Energi, and Fidelity Global Innovators Invest are the top 3 mutual funds which are holding stakes in Fluence Energy Inc BNP Paribas Funds – Energy Transi is currently holding 2.73 million shares of worth totaling $68.37 million. The company recently came selling -0.34 million shares which brought its stake up to 2.30% of the company’s outstanding shares. Fidelity Global Innovators Invest, after buying 1.69 million shares, have now control over 1.42% of the stake in the company. It holds 0.11 million shares of worth $42.33 million.
However, the stock later moved at a day high price of 25.56, or with a loss of -15.47%. Stock saw a price change of 0.22% in past 5 days and over the past one month there was a price change of 19.41%. Year-to-date (YTD), FLNC shares are showing a performance of 34.17% which increased to 18.49% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.70 but also hit the highest price of $31.32 during that period. The average intraday trading volume for Fluence Energy Inc shares is 1.82 million. The stock is currently trading -0.12% below its 20-day simple moving average (SMA20), while that difference is up 11.88% for SMA50 and it goes to 2.35% higher than SMA200.
Fidelity Management & Research Co acquired 3.96 million shares of Fluence Energy Inc having value of about $99.3 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 2.42 million shares in the company valued at close to $55618069.26, or have control over 156.74% stake in the company. Fluence Energy Inc (NASDAQ: FLNC) currently have 118.90M outstanding shares and institutions hold larger chunk of about 34.56% of that. Holding of mutual funds in the company is about 23.15% while other institutional holders and individual stake holders have control over 46.23% and 11.76% of the stake respectively.
The stock has a current market capitalization of $2.74B and its 3Y-monthly beta is at 2.87. It has posted earnings per share of -$0.61 in the same period. It has Quick Ratio of 1.16 while making debt-to-equity ratio of 0.13. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FLNC, volatility over the week remained 9.09% while standing at 7.28% over the month.
Analysts are in expectations that Fluence Energy Inc (FLNC) stock would likely to be making an EPS of $Lincoln National Corporation in the current quarter, while forecast for next quarter EPS is $27.02 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $FLEX LNG Ltd. which is $Flora Growth Corp. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Fennec Pharmaceuticals Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 137.33% while it is estimated to increase by 366.94% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH MKM on December 04, 2023 offering a Buy rating for the stock and assigned a target price range of between $27 and $31 to it.
