Canal Insurance CO Purchases 80,000 Shares of Fluence Energy, Inc. $FLNC

Key Points

• Canal Insurance CO increased its stake in Fluence Energy by purchasing an additional 80,000 shares, bringing its total holdings to 580,000 shares valued at approximately $3.89 million.
• Analysts have mixed opinions on Fluence Energy, with target prices ranging from $7.00 to $9.00 and a consensus rating of "Reduce".
• Fluence Energy reported a 24.7% increase in revenue year-over-year, yet had a negative net margin and return on equity in its latest quarterly earnings.

Canal Insurance CO boosted its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 16.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 580,000 shares of the company's stock after purchasing an additional 80,000 shares during the quarter. Canal Insurance CO owned 0.32% of Fluence Energy worth $3,892,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC acquired a new position in shares of Fluence Energy in the 2nd quarter valued at $30,000. SBI Securities Co. Ltd. lifted its holdings in Fluence Energy by 462.6% during the first 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 in the last quarter. TFB Advisors LLC acquired a new position in Fluence Energy in the first quarter valued at about $53,000. Voleon Capital Management LP acquired a new position in Fluence Energy in the first quarter valued at about $55,000. Finally, Silverlake Wealth Management LLC bought a new stake in shares of Fluence Energy in the first quarter worth about $56,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BNP Paribas set a $9.00 target price on Fluence Energy and gave the stock an "underperform" rating in a research note on Tuesday. Royal Bank Of Canada reduced their target price on shares of Fluence Energy from $8.00 to $7.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. UBS Group increased their target price on Fluence Energy from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Wednesday, August 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Fluence Energy in a report on Wednesday, October 8th. Finally, Hsbc Global Res downgraded Fluence Energy from a "hold" rating to a "moderate sell" rating in a report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $8.69.

Fluence Energy Trading Down 6.4%

Shares of NASDAQ:FLNC opened at $15.22 on Thursday. The company's 50-day moving average price is $10.68 and its two-hundred day moving average price is $7.63. Fluence Energy, Inc. has a one year low of $3.46 and a one year high of $24.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.64 and a quick ratio of 1.06. The stock has a market capitalization of $2.78 billion, a PE ratio of -72.48 and a beta of 2.76.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $602.53 million during the quarter, compared to analysts' expectations of $738.52 million. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%.The company's revenue was up 24.7% compared to the same quarter last year. Fluence Energy has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal 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.

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