Fluence Energy, Inc. $FLNC Shares Sold by Electron Capital Partners LLC

Key Points

• Electron Capital Partners LLC reduced its stake in Fluence Energy, Inc. by 55.4% in Q1, now holding approximately 0.2% of the company's investment portfolio.
• Other institutional investors have also altered their stakes, with significant increases including a 257.2% boost by Millennium Management LLC.
• Fluence Energy recently reported a slight profit of $0.01 EPS for the quarter, which exceeded analysts' expectations, although total revenue fell short of estimates.

Electron Capital Partners LLC reduced its stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 55.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 566,709 shares of the company's stock after selling 704,078 shares during the quarter. Fluence Energy accounts for 0.2% of Electron Capital Partners LLC's investment portfolio, making the stock its 26th largest position. Electron Capital Partners LLC owned 0.31% of Fluence Energy worth $2,749,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in Fluence Energy by 1,441.8% during the 1st quarter. AQR Capital Management LLC now owns 900,674 shares of the company's stock worth $4,368,000 after buying an additional 842,257 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Fluence Energy by 112.6% during the 1st quarter. Advisors Asset Management Inc. now owns 93,285 shares of the company's stock worth $452,000 after buying an additional 49,414 shares in the last quarter. PDT Partners LLC lifted its holdings in Fluence Energy by 2,140.2% during the 1st quarter. PDT Partners LLC now owns 585,084 shares of the company's stock worth $2,838,000 after buying an additional 558,967 shares in the last quarter. Vident Advisory LLC lifted its holdings in Fluence Energy by 19.8% during the 1st quarter. Vident Advisory LLC now owns 16,694 shares of the company's stock worth $81,000 after buying an additional 2,764 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in Fluence Energy during the 1st quarter worth approximately $624,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Down 4.5%

NASDAQ:FLNC traded down $0.34 during midday trading on Monday, hitting $7.21. 2,774,749 shares of the company were exchanged, compared to its average volume of 5,162,172. The company has a fifty day simple moving average of $8.10 and a 200 day simple moving average of $6.05. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The company has a current ratio of 1.64, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $1.32 billion, a PE ratio of -34.33 and a beta of 2.66.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLNC shares. Morgan Stanley increased their target price on shares of Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Royal Bank Of Canada reduced their price objective on shares of Fluence Energy from $8.00 to $7.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Fluence Energy from $5.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Seaport Res Ptn lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group restated an "underperform" rating and issued a $6.00 price objective on shares of Fluence Energy in a report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.08.

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.