Fluence Energy, Inc. $FLNC Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Fluence Energy, Inc. by 16.8% during the first quarter, selling 88,250 shares and holding 435,622 shares worth approximately $2.1 million.
• Fluence Energy's current market capitalization is $1.35 billion, with shares trading down 4.5% at $7.40, contrasting its 52-week high of $24.00.
• Analysts' ratings for Fluence Energy are mixed, with four 'Buy' ratings, seventeen 'Hold' ratings, and three 'Sell' ratings, averaging a target price of $8.08.

Charles Schwab Investment Management Inc. lowered its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 16.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 435,622 shares of the company's stock after selling 88,250 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.24% of Fluence Energy worth $2,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC lifted its position in shares of Fluence Energy by 257.2% in the fourth quarter. Millennium Management LLC now owns 720,828 shares of the company's stock valued at $11,447,000 after acquiring an additional 519,049 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Fluence Energy during the fourth quarter worth approximately $1,221,000. Bryce Point Capital LLC purchased a new position in Fluence Energy during the first quarter worth approximately $591,000. Janney Montgomery Scott LLC purchased a new position in Fluence Energy during the first quarter worth approximately $403,000. Finally, Federated Hermes Inc. increased its stake in Fluence Energy by 2,409.2% during the first quarter. Federated Hermes Inc. now owns 541,168 shares of the company's stock worth $2,625,000 after acquiring an additional 519,601 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FLNC shares. UBS Group lifted their price objective on Fluence Energy from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Wednesday, August 27th. Mizuho reissued a "neutral" rating and set a $10.00 target price (up from $6.00) on shares of Fluence Energy in a research note on Monday, July 14th. Morgan Stanley boosted their target price on Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Susquehanna boosted their target price on Fluence Energy from $6.00 to $11.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Finally, HSBC downgraded Fluence Energy from a "hold" rating to a "reduce" rating and set a $5.00 target price for the company. in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8.08.

Fluence Energy Price Performance

FLNC stock traded down $0.05 on Thursday, reaching $6.71. The company had a trading volume of 1,820,315 shares, compared to its average volume of 5,153,761. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $24.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.64. The company's fifty day moving average is $8.06 and its 200 day moving average is $6.06. The company has a market cap of $1.22 billion, a P/E ratio of -32.12 and a beta of 2.66.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.03. The company had revenue of $602.53 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 24.7% on a year-over-year basis. Fluence Energy has set its FY 2025 guidance at EPS. On average, research 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.