Fluence Energy, Inc. (NASDAQ:FLNC) Stake Reduced by EagleClaw Capital Managment LLC

Key Points

• EagleClaw Capital Management LLC reduced its stake in Fluence Energy by 61.3%, now holding 71,200 shares valued at approximately $345,000.
• Analysts have provided mixed ratings for Fluence Energy, with two sell ratings, nineteen hold ratings, and four buy ratings, leading to a consensus rating of "Hold" and an average price target of $7.98.
• Fluence Energy reported a loss of $0.24 EPS for the quarter, missing estimates, despite revenue of $431.62 million which exceeded expectations.

EagleClaw Capital Managment LLC reduced its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 61.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,200 shares of the company's stock after selling 112,575 shares during the quarter. EagleClaw Capital Managment LLC's holdings in Fluence Energy were worth $345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zimmer Partners LP grew its stake in Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after acquiring an additional 1,894,301 shares during the period. Webs Creek Capital Management LP acquired a new stake in Fluence Energy during the 4th quarter worth $15,118,000. Edgestream Partners L.P. acquired a new stake in Fluence Energy during the 1st quarter worth $4,180,000. Covalis Capital LLP acquired a new stake in Fluence Energy during the 4th quarter worth $12,113,000. Finally, Point72 Asset Management L.P. boosted its stake in Fluence Energy by 63.5% during the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company's stock worth $24,940,000 after purchasing an additional 610,229 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director directly owned 86,202 shares in the company, valued at approximately $508,591.80. This trade represents a 62.03% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.65% of the stock is currently owned by insiders.

Fluence Energy Price Performance

Fluence Energy stock traded down $0.03 during midday trading on Tuesday, reaching $8.46. The company's stock had a trading volume of 1,998,320 shares, compared to its average volume of 5,301,004. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The firm has a market capitalization of $1.53 billion, a PE ratio of -38.39 and a beta of 2.67. The stock's 50 day simple moving average is $6.89 and its 200 day simple moving average is $6.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The business had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The company's quarterly revenue was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. On average, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FLNC shares. Barclays lifted their target price on shares of Fluence Energy from $5.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. BMO Capital Markets set a $5.00 price target on Fluence Energy and gave the stock a "market perform" rating in a report on Wednesday, June 25th. Susquehanna increased their target price on shares of Fluence Energy from $6.00 to $11.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. UBS Group upped their price objective on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, Jefferies Financial Group reaffirmed an "underperform" rating and set a $6.00 price objective 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 issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.98.

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.