Alyeska Investment Group L.P. Sells 88,183 Shares of Fluence Energy, Inc. $FLNC

Key Points

• Alyeska Investment Group L.P. reduced its stake in Fluence Energy by 50.0%, selling 88,183 shares during the first quarter, leaving them with holdings worth $428,000.
• The stock price of Fluence Energy opened at $7.55, with a market cap of $1.38 billion and a 52-week range from $3.46 to $24.00.
• Analysts have mixed opinions on Fluence Energy, with four rating it as a Buy, seventeen rating it as Hold, and three as Sell, indicating a consensus target price of $8.08.

Alyeska Investment Group L.P. trimmed its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 50.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,184 shares of the company's stock after selling 88,183 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Fluence Energy were worth $428,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FLNC. SBI Securities Co. Ltd. increased its position 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 buying an additional 6,648 shares during the last quarter. TFB Advisors LLC acquired a new position in Fluence Energy during the first quarter worth $53,000. Silverlake Wealth Management LLC acquired a new position in Fluence Energy during the first quarter worth $56,000. Alpha Wealth Funds LLC acquired a new stake in shares of Fluence Energy in the first quarter valued at about $63,000. Finally, Vident Advisory LLC grew its position in shares of Fluence Energy by 19.8% in the first quarter. Vident Advisory LLC now owns 16,694 shares of the company's stock valued at $81,000 after purchasing an additional 2,764 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on FLNC. HSBC downgraded Fluence Energy from a "hold" rating to a "reduce" rating and set a $5.00 price target on the stock. in a research report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on Fluence Energy from $5.00 to $8.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. UBS Group raised their price target on Fluence Energy from $6.00 to $8.00 and gave the company a "neutral" rating in a research report on Wednesday, August 27th. BMO Capital Markets set a $5.00 price target on Fluence Energy and gave the company a "market perform" rating in a research report on Wednesday, June 25th. Finally, Morgan Stanley raised their price target on Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $8.08.

Fluence Energy Stock Performance

FLNC stock traded up $0.06 during trading on Friday, reaching $7.00. 7,050,012 shares of the stock were exchanged, compared to its average volume of 3,911,961. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $24.00. The company has a market capitalization of $1.28 billion, a P/E ratio of -33.33 and a beta of 2.66. The stock has a 50 day simple moving average of $8.03 and a 200-day simple moving average of $6.07. The company has a current ratio of 1.64, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

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, topping analysts' consensus estimates 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. Fluence Energy'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. As a group, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current 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.