Handelsbanken Fonder AB Sells 3,099,498 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Handelsbanken Fonder AB trimmed its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 70.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,309,979 shares of the company's stock after selling 3,099,498 shares during the period. Handelsbanken Fonder AB owned about 0.72% of Fluence Energy worth $6,353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Duff & Phelps Investment Management Co. raised its stake in shares of Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock valued at $432,000 after acquiring an additional 1,432 shares during the last quarter. Lazard Freres Gestion S.A.S. raised its stake in shares of Fluence Energy by 7.3% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock valued at $352,000 after acquiring an additional 1,500 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Fluence Energy by 0.4% during the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock valued at $6,988,000 after acquiring an additional 1,734 shares during the last quarter. Swiss National Bank raised its stake in shares of Fluence Energy by 1.4% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company's stock valued at $2,014,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new position in shares of Fluence Energy during the fourth quarter valued at about $34,000. 53.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Morgan Stanley upped their price objective on shares of Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Robert W. Baird reduced their price target on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Guggenheim reduced their price target on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Finally, Hsbc Global Res cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.12.

Insider Transactions at Fluence Energy

In other news, Director Cynthia A. Arnold bought 33,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the purchase, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. This represents a 62.03% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.65% of the company's stock.

Fluence Energy Stock Up 3.3%

FLNC traded up $0.16 during midday trading on Friday, reaching $5.01. The company's stock had a trading volume of 4,020,484 shares, compared to its average volume of 3,649,666. The firm has a market capitalization of $909.56 million, a price-to-earnings ratio of -100.20 and a beta of 2.51. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a 1 year low of $3.46 and a 1 year high of $24.00. The stock's 50-day moving average is $4.54 and its 200-day moving average is $8.93.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The company's quarterly revenue was down 30.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, research analysts expect that Fluence Energy, Inc. will post 0.08 EPS 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.