Skandinaviska Enskilda Banken AB publ Reduces Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Skandinaviska Enskilda Banken AB publ decreased its position in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 28.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,551 shares of the company's stock after selling 41,121 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.06% of Fluence Energy worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in shares of Fluence Energy by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock valued at $6,988,000 after purchasing an additional 1,734 shares during the last quarter. Altshuler Shaham Ltd bought a new position in shares of Fluence Energy during the 4th quarter valued at approximately $34,000. Alps Advisors Inc. increased its position in shares of Fluence Energy by 2.5% during the 1st quarter. Alps Advisors Inc. now owns 99,891 shares of the company's stock valued at $484,000 after purchasing an additional 2,444 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Fluence Energy by 7.8% during the 4th quarter. MetLife Investment Management LLC now owns 37,557 shares of the company's stock valued at $596,000 after purchasing an additional 2,718 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of Fluence Energy by 35.8% during the 4th quarter. Vident Advisory LLC now owns 13,930 shares of the company's stock valued at $221,000 after purchasing an additional 3,672 shares during the last quarter. Institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Performance

Shares of Fluence Energy stock traded down $0.08 on Thursday, reaching $8.12. The company's stock had a trading volume of 2,735,300 shares, compared to its average volume of 4,641,118. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week high of $24.00. The stock has a 50-day moving average price of $6.69 and a 200-day moving average price of $6.89. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). The business had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The firm's quarterly revenue was down 30.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) earnings per share. As a group, sell-side analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Activity at Fluence Energy

In other news, Director Cynthia A. Arnold purchased 33,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director owned 86,202 shares of the company's stock, valued at $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FLNC. Barclays boosted their target price on Fluence Energy from $5.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Susquehanna boosted their price objective on Fluence Energy from $6.00 to $11.00 and gave the company a "positive" rating in a report on Monday, July 21st. Morgan Stanley boosted their price objective on Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Hsbc Global Res cut Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, Mizuho restated a "neutral" rating and set a $10.00 price objective (up previously from $6.00) on shares of Fluence Energy in a report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.98.

About Fluence Energy

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.