CoreCommodity Management LLC Sells 119,646 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

CoreCommodity Management LLC lowered its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 92.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,113 shares of the company's stock after selling 119,646 shares during the period. CoreCommodity Management LLC's holdings in Fluence Energy were worth $161,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Fluence Energy by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock worth $99,287,000 after buying an additional 110,256 shares during the period. Clearbridge Investments LLC increased its stake in shares of Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock worth $29,367,000 after purchasing an additional 296,325 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Fluence Energy by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company's stock worth $24,035,000 after purchasing an additional 5,216 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Fluence Energy by 22.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,134,173 shares of the company's stock valued at $18,013,000 after buying an additional 207,784 shares during the last quarter. Finally, Erste Asset Management GmbH increased its position in Fluence Energy by 15.5% during the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company's stock worth $18,058,000 after buying an additional 148,857 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Trading Down 4.8 %

Shares of NASDAQ FLNC traded down $0.23 during mid-day trading on Friday, hitting $4.59. 6,445,263 shares of the company traded hands, compared to its average volume of 3,529,245. The business has a 50 day moving average of $4.59 and a two-hundred day moving average of $11.74. The stock has a market capitalization of $833.31 million, a price-to-earnings ratio of -91.80 and a beta of 2.49. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $26.12. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The firm had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. During the same period last year, the business earned ($0.07) earnings per share. The business's revenue was down 30.7% on a year-over-year basis. On average, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley set a $4.00 price target on Fluence Energy in a research note on Wednesday, April 23rd. HSBC downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price for the company. in a research report on Monday, April 28th. UBS Group decreased their price objective on shares of Fluence Energy from $8.00 to $4.50 and set a "neutral" rating for the company in a research note on Monday, April 14th. BMO Capital Markets downgraded shares of Fluence Energy from an "outperform" rating to a "market perform" rating and cut their target price for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, Roth Capital downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $10.41.

Insider Buying and Selling at Fluence Energy

In other news, CEO Julian Nebreda bought 23,500 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the purchase, the chief executive officer now directly owns 120,455 shares of the company's stock, valued at $764,889.25. This trade represents a 24.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herman E. Bulls purchased 30,000 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the acquisition, the director now owns 105,861 shares in the company, valued at $691,272.33. The trade was a 39.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 79,000 shares of company stock valued at $499,665 in the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Fluence Energy Profile

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.