Handelsbanken Fonder AB Has $3.21 Million Stake in Fluence Energy, Inc. $FLNC

Key Points

• Handelsbanken Fonder reduced its Fluence Energy stake by 45.8% in the second quarter, selling 136,607 shares and retaining 161,400 shares valued at approximately $3.21 million.
• Fluence reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below the $818.57 million consensus estimate, although revenue increased 7.9% year over year.
• FLNC shares opened at $13.14, while analysts maintained a consensus “Hold” rating with an average price target of $18.58; institutional investors own 53.16% of the company.

Handelsbanken Fonder AB decreased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 45.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,400 shares of the company's stock after selling 136,607 shares during the period. Handelsbanken Fonder AB owned 0.09% of Fluence Energy worth $3,209,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Fluence Energy by 882.1% during the 4th quarter. Legal & General Group Plc now owns 738,898 shares of the company's stock valued at $14,615,000 after purchasing an additional 663,660 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Fluence Energy by 194.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 177,037 shares of the company's stock valued at $2,436,000 after buying an additional 116,882 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Fluence Energy by 493.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 445,350 shares of the company's stock worth $8,809,000 after buying an additional 370,350 shares during the period. Renaissance Technologies LLC bought a new position in Fluence Energy in the 1st quarter worth approximately $19,579,000. Finally, Bank of America Corp DE lifted its holdings in shares of Fluence Energy by 24.4% during the first quarter. Bank of America Corp DE now owns 3,085,730 shares of the company's stock worth $42,460,000 after buying an additional 604,983 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Stock Down 0.6%

Shares of FLNC opened at $13.14 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.34 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $17.30 and a two-hundred day moving average price of $17.85. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -21.54 and a beta of 2.78. Fluence Energy, Inc. has a 12 month low of $6.60 and a 12 month high of $33.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The company had revenue of $649.85 million during the quarter, compared to the consensus estimate of $818.57 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts predict that Fluence Energy, Inc. will post -0.51 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, SVP John Zahurancik sold 16,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $25.18, for a total transaction of $402,880.00. Following the completion of the transaction, the senior vice president directly owned 87,145 shares in the company, valued at $2,194,311.10. This represents a 15.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the transaction, the director owned 58,550 shares of the company's stock, valued at $1,463,750. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,974 shares of company stock valued at $879,787 in the last 90 days. 0.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FLNC shares. Glj Research began coverage on Fluence Energy in a research report on Wednesday, July 1st. They issued a "buy" rating and a $26.00 price objective for the company. Royal Bank Of Canada dropped their target price on shares of Fluence Energy from $16.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Friday, August 7th. Susquehanna upped their target price on shares of Fluence Energy from $23.00 to $25.00 and gave the company a "positive" rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Fluence Energy from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, Zacks Research downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.58.

About Fluence Energy

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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