Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,160 shares of the company's stock after selling 124,203 shares during the period. DekaBank Deutsche Girozentrale owned about 0.21% of Fluence Energy worth $1,914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of FLNC. Bank of New York Mellon Corp increased its stake in shares of Fluence Energy by 18.0% during the fourth quarter. Bank of New York Mellon Corp now owns 199,575 shares of the company's stock worth $3,169,000 after purchasing an additional 30,480 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Fluence Energy by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 523,872 shares of the company's stock worth $8,319,000 after purchasing an additional 21,932 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Fluence Energy during the fourth quarter worth about $1,221,000. Swiss National Bank boosted its position in Fluence Energy by 1.4% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Fluence Energy by 52.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 50,763 shares of the company's stock worth $806,000 after acquiring an additional 17,437 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. BMO Capital Markets set a $5.00 price target on shares of Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. UBS Group boosted their price target on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. HSBC lowered shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research report on Monday, April 28th. Finally, Piper Sandler lowered their price target on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $7.78.

Fluence Energy Trading Down 0.4%

Shares of FLNC stock traded down $0.03 during trading hours on Thursday, hitting $8.24. The company had a trading volume of 4,307,288 shares, compared to its average volume of 3,943,203. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $24.00. The company's fifty day moving average is $6.00 and its 200 day moving average is $7.37. The stock has a market capitalization of $1.50 billion, a PE ratio of -37.45 and a beta of 2.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99.

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 analyst estimates of $328.17 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The business's revenue was down 30.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. Research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Fluence Energy 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.