Siemens AG Cuts Holdings in Fluence Energy, Inc. $FLNC

Key Points

• Siemens AG cut its stake in Fluence Energy by 50.3% in the fourth quarter, selling 20 million shares and leaving it with 19.7 million shares worth about $390.4 million. Fluence still accounted for nearly 100% of Siemens AG’s portfolio and represented 10.73% ownership of the company.
• Fluence Energy reported mixed quarterly results, posting an adjusted loss of $0.16 per share, which beat expectations, while revenue of $464.9 million fell short of estimates. Revenue still increased 7.7% year over year.
• Recent trading and analyst signals have been cautious, with Qatar Investment Authority and a company director both selling shares, while analysts currently rate the stock a consensus “Hold” with an average price target of $19.47. The stock was recently trading at $23.92, above that target.

Siemens AG trimmed its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,738,064 shares of the company's stock after selling 20,000,000 shares during the period. Fluence Energy makes up approximately 100.0% of Siemens AG's investment portfolio, making the stock its largest holding. Siemens AG owned 10.73% of Fluence Energy worth $390,419,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Fluence Energy by 22.2% in the fourth quarter. GAMMA Investing LLC now owns 2,406 shares of the company's stock valued at $48,000 after purchasing an additional 437 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Fluence Energy by 17.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,970 shares of the company's stock valued at $79,000 after purchasing an additional 586 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Fluence Energy by 10.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,638 shares of the company's stock valued at $191,000 after purchasing an additional 935 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Fluence Energy by 8.6% during the third quarter. Jones Financial Companies Lllp now owns 13,452 shares of the company's stock worth $160,000 after acquiring an additional 1,063 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Fluence Energy by 1.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,185 shares of the company's stock worth $1,082,000 after acquiring an additional 1,082 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Stock Performance

FLNC opened at $23.92 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.91 and a current ratio of 1.43. The business's 50-day simple moving average is $18.64 and its 200 day simple moving average is $19.61. The firm has a market capitalization of $4.41 billion, a PE ratio of -66.44 and a beta of 2.77. Fluence Energy, Inc. has a 52-week low of $5.32 and a 52-week high of $33.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The firm had revenue of $464.89 million for the quarter, compared to analyst estimates of $614.93 million. Fluence Energy had a negative return on equity of 8.29% and a negative net margin of 1.62%.The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.24) earnings per share. As a group, sell-side analysts expect that Fluence Energy, Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLNC has been the topic of several analyst reports. Guggenheim upgraded Fluence Energy from a "sell" rating to a "neutral" rating in a report on Thursday, March 19th. Needham & Company LLC initiated coverage on Fluence Energy in a report on Friday, March 20th. They set a "hold" rating on the stock. Canaccord Genuity Group set a $28.00 target price on Fluence Energy in a report on Friday, May 8th. Citigroup upped their target price on Fluence Energy from $15.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered Fluence Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $19.47.

Insider Activity at Fluence Energy

In other Fluence Energy news, major shareholder Qatar Investment Authority sold 2,867,172 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $21.00, for a total value of $60,210,612.00. Following the sale, the insider owned 11,801,103 shares in the company, valued at $247,823,163. This represents a 19.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Heynitz Harald Von sold 5,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at $1,463,750. This represents 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. 0.69% of the stock is owned by corporate insiders.

Fluence Energy 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.

Want to see what other hedge funds are holding FLNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fluence Energy, Inc. (NASDAQ:FLNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.