Banque Cantonale Vaudoise Makes New Investment in Fluence Energy, Inc. (NASDAQ:FLNC)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Fluence Energy, purchasing 57,069 shares valued at approximately $277,000 in the first quarter.
• Fluence Energy's stock has seen mixed reviews from analysts, with target prices ranging from $2.00 to $8.00, and the stock currently holds a consensus rating of "Hold."
• The company reported a 30.7% decline in revenue compared to the same quarter last year, with a per-share loss of ($0.24), missing analyst expectations by ($0.03).

Banque Cantonale Vaudoise acquired a new position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 57,069 shares of the company's stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLNC. Millennium Management LLC increased its holdings in Fluence Energy by 257.2% during the 4th quarter. Millennium Management LLC now owns 720,828 shares of the company's stock worth $11,447,000 after purchasing an additional 519,049 shares during the period. Raymond James Financial Inc. acquired a new position in Fluence Energy in the fourth quarter valued at approximately $1,221,000. Bryce Point Capital LLC acquired a new position in Fluence Energy during the first quarter worth $591,000. Janney Montgomery Scott LLC purchased a new position in Fluence Energy in the first quarter valued at $403,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in Fluence Energy in the first quarter valued at $509,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Trading Up 7.8%

NASDAQ FLNC traded up $0.66 on Thursday, hitting $9.11. The company's stock had a trading volume of 2,038,267 shares, compared to its average volume of 5,263,048. Fluence Energy, Inc. has a 1-year low of $3.46 and a 1-year high of $24.00. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The company's 50-day moving average is $7.04 and its 200 day moving average is $6.63. The firm has a market cap of $1.65 billion, a PE ratio of -41.43 and a beta of 2.67.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.10% and a negative return on equity of 4.40%. The business had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The firm's quarterly revenue was down 30.7% compared to the same quarter last year. As a group, analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FLNC. Guggenheim reduced their price target on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets set a $5.00 price objective on shares of Fluence Energy and gave the company a "market perform" rating in a research note on Wednesday, June 25th. Barclays lifted their target price on shares of Fluence Energy from $5.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Hsbc Global Res lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a $6.00 target price on shares of Fluence Energy in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.98.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the purchase, the director owned 86,202 shares of the company's stock, valued at $508,591.80. This represents a 62.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by corporate insiders.

Fluence Energy Company 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.