Fluence Energy, Inc. $FLNC Stock Holdings Boosted by Bank of America Corp DE

Key Points

• Bank of America increased its Fluence Energy stake by 24.4% in the first quarter, adding 604,983 shares to own 3.09 million shares worth approximately $42.5 million. Institutional investors collectively hold 53.16% of FLNC.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $18.79. Targets range from $15 to $25, while ratings include seven Buys, 11 Holds and four Sells.
• Fluence reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below the $818.57 million analyst estimate, although revenue rose 7.9% year over year. The stock opened at $13.20, while insiders sold approximately $61.1 million of shares over the past 90 days.

Bank of America Corp DE grew its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,085,730 shares of the company's stock after purchasing an additional 604,983 shares during the quarter. Bank of America Corp DE owned 1.67% of Fluence Energy worth $42,460,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of FLNC. Curio Wealth LLC acquired a new position in Fluence Energy during the fourth quarter worth about $31,000. State of Wyoming acquired a new stake in Fluence Energy in the 4th quarter valued at about $36,000. Sankala Group LLC acquired a new stake in Fluence Energy in the 4th quarter valued at about $51,000. EverSource Wealth Advisors LLC boosted its position in shares of Fluence Energy by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock valued at $38,000 after purchasing an additional 672 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Fluence Energy by 442.9% during the 4th quarter. Farther Finance Advisors LLC now owns 3,377 shares of the company's stock valued at $67,000 after purchasing an additional 2,755 shares in the last quarter. Institutional investors own 53.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FLNC shares. Roth Capital set a $18.00 target price on shares of Fluence Energy in a report on Friday, August 7th. Wall Street Zen cut shares of Fluence Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. The Goldman Sachs Group restated a "buy" rating and issued a $22.00 price target on shares of Fluence Energy in a research report on Thursday, May 7th. Royal Bank Of Canada dropped their price target on Fluence Energy from $16.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, August 7th. Finally, Susquehanna increased their price objective on Fluence Energy from $23.00 to $25.00 and gave the company a "positive" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.79.

Fluence Energy Price Performance

FLNC stock opened at $13.20 on Thursday. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. Fluence Energy, Inc. has a one year low of $6.60 and a one year high of $33.51. The firm has a market capitalization of $2.43 billion, a PE ratio of -21.64 and a beta of 2.78. The firm has a 50-day moving average of $17.77 and a two-hundred day moving average of $17.98.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.The firm had revenue of $649.85 million during the quarter, compared to analyst estimates of $818.57 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Fluence Energy, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other Fluence Energy news, major shareholder Qatar Investment Authority sold 2,867,172 shares of the business's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the sale, the insider directly owned 11,801,103 shares of the company's stock, valued at $247,823,163. The trade was a 19.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director owned 58,550 shares of the company's stock, valued at $1,463,750. The trade was a 7.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 2,904,146 shares of company stock valued at $61,090,399. Company insiders own 0.69% of the company's stock.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company's core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.

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