Banque Cantonale Vaudoise Purchases New Position 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 bought a new stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 57,069 shares of the company's stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FLNC. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. lifted its stake in shares of Fluence Energy by 462.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock worth $39,000 after acquiring an additional 6,648 shares during the period. Silverlake Wealth Management LLC acquired a new stake in shares of Fluence Energy in the 1st quarter worth approximately $56,000. Alpha Wealth Funds LLC acquired a new stake in shares of Fluence Energy in the 1st quarter worth approximately $63,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Fluence Energy during the first quarter valued at approximately $82,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLNC has been the subject of several recent research reports. BMO Capital Markets set a $5.00 target price on shares of Fluence Energy and gave the company a "market perform" rating in a research note on Wednesday, June 25th. HSBC lowered 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 note on Monday, April 28th. The Goldman Sachs Group cut their target price on shares of Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Jefferies Financial Group reissued an "underperform" rating and set a $6.00 target price on shares of Fluence Energy in a research note on Friday, July 11th. Finally, Robert W. Baird cut their price target on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.98.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold acquired 33,000 shares of Fluence Energy stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $5.90 per share, with a total value of $194,700.00. Following the acquisition, the director owned 86,202 shares of the company's stock, valued at approximately $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.65% of the company's stock.

Fluence Energy Stock Up 0.8%

Shares of FLNC traded up $0.07 during mid-day trading on Tuesday, hitting $8.55. 3,110,787 shares of the company's stock were exchanged, compared to its average volume of 4,493,407. The firm has a fifty day moving average of $6.96 and a two-hundred day moving average of $6.62. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $24.00. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -38.86 and a beta of 2.67. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share 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 company had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. During the same period last year, the company earned ($0.07) earnings per share. Fluence Energy's revenue for the quarter was down 30.7% on a year-over-year basis. On average, sell-side analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

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.