Fluence Energy, Inc. (NASDAQ:FLNC) Stake Cut by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 71.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,411 shares of the company's stock after selling 74,589 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Fluence Energy were worth $467,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FLNC. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy during the 4th quarter worth $34,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Fluence Energy during the fourth quarter worth about $79,000. Tower Research Capital LLC TRC increased its stake in Fluence Energy by 827.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after acquiring an additional 4,921 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Fluence Energy in the 4th quarter worth about $176,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Fluence Energy by 47.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after purchasing an additional 4,285 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Stock Performance

FLNC traded up $0.04 during trading hours on Friday, hitting $5.41. 5,452,910 shares of the stock were exchanged, compared to its average volume of 3,659,331. The stock has a market cap of $982.18 million, a price-to-earnings ratio of -108.20 and a beta of 2.49. The stock has a 50-day simple moving average of $4.60 and a 200-day simple moving average of $11.15. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. Fluence Energy, Inc. has a 12 month low of $3.46 and a 12 month high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The company's quarterly revenue was down 30.7% compared to the same quarter last year. Analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the transaction, the director now directly owns 86,202 shares in the company, valued at $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herman E. Bulls purchased 10,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, the director now directly owns 115,861 shares in the company, valued at $626,808.01. This represents a 9.45% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FLNC. 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 raised their target price on shares of Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday. Roth Mkm cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $20.00 to $6.50 in a research report on Wednesday, February 12th. Canaccord Genuity Group cut their price objective on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Bank of America downgraded Fluence Energy from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy has an average rating of "Hold" and a consensus price target of $8.17.

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.