Fluence Energy, Inc. $FLNC Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH has reduced its stock position in Fluence Energy by 20.4%, leaving it with approximately 885,035 shares valued at about $4.4 million.
• Fluence Energy reported a 24.7% increase in revenue compared to the same quarter last year, but had a negative net margin of -0.76% for the last quarter.
• Several analysts have updated their price targets for Fluence Energy, with the average rating being "Hold" and an average price target of $7.98.

Erste Asset Management GmbH trimmed its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 885,035 shares of the company's stock after selling 226,594 shares during the period. Erste Asset Management GmbH owned 0.49% of Fluence Energy worth $4,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in Fluence Energy by 47.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock valued at $211,000 after acquiring an additional 4,285 shares during the period. Invesco Ltd. increased its holdings in Fluence Energy by 28.7% in the 4th quarter. Invesco Ltd. now owns 366,513 shares of the company's stock valued at $5,820,000 after buying an additional 81,692 shares during the period. Renaissance Technologies LLC bought a new stake in Fluence Energy during the 4th quarter worth approximately $2,233,000. Raymond James Financial Inc. acquired a new position in shares of Fluence Energy in the 4th quarter worth approximately $1,221,000. Finally, Marshall Wace LLP lifted its position in shares of Fluence Energy by 22.9% in the 4th quarter. Marshall Wace LLP now owns 40,688 shares of the company's stock worth $646,000 after purchasing an additional 7,588 shares during the period. Institutional investors and hedge funds own 53.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FLNC. JPMorgan Chase & Co. increased their price target on shares of Fluence Energy from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Hsbc Global Res downgraded Fluence Energy from a "hold" rating to a "moderate sell" rating in a report on Wednesday, August 13th. Barclays cut their price target on Fluence Energy from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. BMO Capital Markets set a $5.00 price objective on Fluence Energy and gave the company a "market perform" rating in a research note on Wednesday, June 25th. Finally, Mizuho reissued a "neutral" rating and issued a $10.00 price target (up from $6.00) on shares of Fluence Energy in a report on Monday, July 14th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $8.08.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC traded down $0.23 during trading on Wednesday, hitting $7.36. The stock had a trading volume of 902,153 shares, compared to its average volume of 5,211,251. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $24.00. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -35.21 and a beta of 2.67. The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $7.89 and a two-hundred day simple moving average of $6.07.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results 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. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%.The business had revenue of $602.53 million for the quarter, compared to the consensus estimate of $738.52 million. The company's revenue for the quarter was up 24.7% on a year-over-year basis. Fluence Energy has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Fluence Energy Company Profile

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.